Flexible rates from
Buy-to-let mortgages are designed for investors who buy residential properties to rent out as a long-term investment.
Instead of the loan amount being based on your own income and outgoings, a buy to let mortgage is based on how much rent the property can generate – so it is self-fiancing.
Buy-to-let mortgages tend to be interest only repayments or a combination of capital and interest repayments.
Our Manchester team offer several types of buy-to-let mortgages with both fixed or tracker options. These include:
- Buy-to-Let Mortgage
- House of Multiple Occupancy (HMO) Mortgage
- Holiday Let Mortgage
- Portfolio Mortgage
Buy-to-let investing lets you benefit from any monthly profit left after your costs and mortgage repayments but also benefit from any long-term uplift in the value of the property. Often buy-to-let properties are sold to finance a future pension with many investors building a multi-property portfolio.
Investors can also remortgage once the property increases in value to release more equity which can be reinvested into further buy-to-let properties.
Usually a minimum 15% deposit is required, with a larger deposit securing a better interest rate, and the rent generated by the property should be at least 25% more than your monthly mortgage repayments. For example, if you repayments are £800 a month then your rent must be at least £1000 a month.
As a long-term product the rates often tend to be very competitive and the borrower is provided with a choice of a fixed or variable rate product. A fixed rate product allows the borrower to plan monthly expenditure; a variable rate product holds the advantage of a potentially decreasing monthly payment.
Get a same-day quote or book your FREE expert consultation now
Contact our team in our Manchester office today for a free no-obligation chat about our buy-to-let mortgage options. Either drop us a quick call on 0161 913 2780 or fill in the form below to register for a free expert consultation with a member of our team and we will get back to you as soon as possible. If you would prefer us to get back to you via email just tick the box that says you would prefer us to reply via email.