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Home Security System

Buy To Let Mortgages

Ailes Mortgage Solutions will take the complications out of the process. You will be surprised by how easy your life becomes once you come to Ailes Mortgage Solutions, contact us to find out how Ailes Mortgages can help you reach your goal.

A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up payments on your mortgage.

Buying a home is the largest purchase you’re likely to make. Before you arrange your mortgage,

make sure you know what you can afford to borrow. Get in touch with us to find out where to get a

mortgage, the different types and how the process works.

Most forms of Buy to Let mortgages are not regulated by the Financial Conduct

How Buy-to-let mortgages Work?

Buy-to-let (BTL) mortgages are for landlords who want to buy property to rent it out. The rules around buy-to-let mortgages are like those around regular mortgages, but there are some key differences. Read on for more information about how they work, how to get one and what mistakes to avoid.

Buy-to-let mortgages are a lot like ordinary mortgages, but with some key distinctions:

  • Most BTL mortgage lending is not regulated by the Financial Conduct Authority (FCA). There are exceptions, for example, if you wish to let the property to a close family member (e.g. spouse, civil partner, child, grandparent, parent or sibling). These are often referred to as a consumer buy to let mortgages and are assessed according to the same strict affordability rules as a residential mortgage.

  • The fees tend to be much higher.

  • Interest rates on buy-to-let mortgages are usually higher than residential mortgages.

  • The minimum deposit for a buy-to-let mortgage is usually 25% of the property’s value (some lenders allow 20% deposit).

  • Most BTL mortgages are interest-only. This means you pay the interest each month, but not the capital amount. At the end of the mortgage term, you repay the original loan in full. BTL mortgages are also available on a repayment basis.

Get in touch

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