Property 2
You can get a buy-to-let mortgage under the following circumstances:
You or your Company want to invest in houses or flats.
You or your Company can afford to take and understand the risks of investing in property.
You have a good credit record and aren’t stretched too much on your other borrowings, for example, credit cards.
You earn £25,000+ a year. If you earn less than this you might struggle to get a lender to approve your buy-to-let mortgage
You’re under a certain age. Lenders have upper age limits, typically between 75 or 85. This is the oldest you can be when the mortgage ends not when it starts.
The maximum you can borrow is linked to the amount of rental income you expect to receive.
Lenders typically need the rental income to be 25–30% higher than your mortgage payment.
To find out what your rent might be, talk to local letting agents, or check the local press and online to find out how much similar properties are rented for.
For more information, please complete the Contact Us form or alternatively telephone +44 7773 324907
