Buy-to-Let Mortgages
If you are looking for a buy-to-let mortgage Simply Business gives you the ability to compare mortgage quotes from top UK providers.
What is a Buy-to-Let Mortgage?
A buy-to-let mortgage is used to purchase a property for the purpose of renting it out. The lending criteria are often different from buying a residential property. For example, you will need a larger deposit in order to secure a buy-to-let mortgage, typically you can borrow up to 85% of the purchase price.
Buy to-let mortgages have become popular as an alternative form of investment, especially in a property market where prices are rising. For an individual looking to take advantage of a strong property market buy-lo-let mortgages have helped many people buy property as an investment.
Why use Simply Business for your Buy-to-Let Mortgage?
Simply Business allows you to compare quotes for your buy-to-let mortgage. With us you can:
- find the best quote from leading buy-to-let insurance providers
- choose the mortgage that suits your individual requirements
- speak to a customer advisor who can help you choose the right mortgage for you
Important information about Buy-to-let Mortgages
Rental Income – You need to take into account the projected rental income you will have for your property when taking out your mortgage. Your rental income needs to give you breathing space for any unforeseen circumstances leading to you not being able to pay your mortgage for a period of time.
Comparison of Mortgage Rates – It is important to get a comparison of different mortgage rates. Rates can vary between lenders and a comparison of rates is important if you want to get the best deal.
Long term investment – Buying a property for the purposes of renting it out should usually be looked at as a long term investment as property values can rise over a number of years.