No matter your situation, our mortgage advisors can help you find the right mortgage and guide you through the process, whether it's your first buy-to-let property, expanding your portfolio, or remortgaging. We have access to all major buy-to-let lenders, including specialists for professional and consumer landlords.
The Financial Conduct Authority does not regulate some forms of Buy to Lets.
Your Home may be repossessed if you do not keep up repayments on your mortgage.
capital repayment and interest-only. It is important to carefully consider these options. Capital Repayment Mortgage: A capital repayment mortgage involves paying both the loan amount (capital) and the interest each month. With this method, your mortgage will be fully repaid by the end of the term.
An interest-only mortgage means your monthly payment covers only the interest, so your loan amount (capital) doesn’t decrease. However, lenders require proof that you can repay the capital later. This option is common for buy-to-let properties.
The amount you can borrow for a buy-to-let mortgage depends on your expected monthly rental income. Lenders use interest cover ratios or rent-to-interest calculations to estimate your potential profit. This ensures your rental income can cover the mortgage cost plus a margin for other expenses. Depending on the lender and mortgage product, the projected rental income typically needs to be at least 125% of the mortgage.
Planning for some expenses is straightforward, but unexpected costs can arise.
Keeping track of your expenses and monthly rental income is essential. It's also wise to have a financial buffer for surprises. Most landlords should set aside funds for:
During your meeting, your mortgage adviser will:
It’s absolutely free. When the mortgage is completed, we receive a payment from the lender. The distinction is that, unlike other mortgage brokers, we don’t charge our customers an additional fee. You will be provided with excellent service with no personal expenses.
Following your mortgage adviser meeting, expect a follow-up email or call from your Idealistic adviser. They will review your mortgage options and recommend the option which is tailored to your financial situation. In addition, they will provide clear, concise instructions to gather the necessary documentation, and complete the application process.
