Buy To Let Mortgages

Buy to Let Mortgage

A BTL mortgage is specifically used to purchase property that you wish to rent out. Lenders will not allow you or any close family member to live in the property, as it cannot be used for residential purposes. If you plan to let out your property, lenders will prefer you not to finance your purchase with a regular residential mortgage. A majority of lenders offer specific BTL mortgage schemes that are more suitable for you.

A Buy to Let (BTL) mortgage can be used for a variety of strategies including:

Single Lets – suitable for letting the property to a family or professionals.

Home of Multiple Occupation (HMO) - a property that is let on a room-by-room basis.

Holiday Let - a property that is let on a week-by-week basis. This is can also be Air B&B type lettings.

The eligibility and affordability criteria of a BTL mortgage is not based on personal income (although this is taken into consideration) it is based on the rental and value of the property. You have the option of two payment methods with BTL mortgages, interest-only – where you are paying only the interest each month or capital & repayment – where you are paying the interest, together with the capital each month. Longer terms can be considered.

A BTL property can be purchased in an individual, or joint names or within a limited company.

How much can I borrow for a Buy to Let Mortgage?

Determining factors are the property and rental values, the number of properties you own amongst other factors. However, every lender has their own eligibility criteria. You can speak to us to find out more.

What are the eligibility criteria?

Each lender has their own criteria requirements when it comes to eligibility for a BTL mortgage. To find out more, please contact us and we will be more than happy to assist you with your enquiry.

Pearl Mortgage Solutions Ltd is an appointed Representative of PRIMIS Mortgage Network, A trading name of First Complete Limited. First Complete is authorised and regulated by the Financial Conduct Authority.

Registered Office : 290 Baldwins Lane, Hall Green, Birmingham, B28 0XB. Registered in England and Wales

Company Number: 10656314.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Most Buy-to-Let mortgages are not regulated by the Financial Conduct Authority.

The guidance and/and or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers in the UK.

At Pearl Mortgage Solutions Ltd, our mortgage fees range from £0 - £500 depending on the type of mortgage application, the complexity of your case and individual circumstances. We will discuss this with you at the earliest opportunity so you are fully aware.