Buy To Let & Let to Buy Mortgages

A Buy-to-let mortgage (also known as an Investment mortgage) is designed for borrowers who want to let out their property to a third party (i.e tenants)

More and more people are investing in property as a long term investment offering the potential of capital gain together with income stream in retirement.

When you take out a buy-to-let, you will be expected to meet certain criteria:-

·         Deposits required for buy-to-let mortgages are typically larger than those for a standard residential mortgage – it will typically be 20% – 25%.

·        Your expected rental Income must exceed your monthly mortgage repayment by a certain percentage. For example, your lender may require a rental income of 130% of your monthly mortgage payments.

·        The lender will also want to establish whether the property you are buying is a good long term investment and that your rental expectations are achievable.

Your property may be repossessed if you do not keep up repayments on your mortgage.

Although Hoskin Mortgages / Hoskin Financial Planning are regulated by the Financial Conduct Authority (FCA), most buy-to-let mortgages are not.   

Let to Buy Mortgage (LTB):

This is a mortgage where the borrower’s current property is let to other tenants and the rental income is used to cover the mortgage repayments on a new property, bought as the borrower’s main residence. When Lenders calculate how large a loan the borrower can afford to repay on LTB they do so primarily on the basis of projected rental income, rather than salary income multiples.

But before you contact us why not checkout some of our customer feedback below:

For more customer feedback please visit our Feedback page.

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