Can anybody apply for a buy-to-let mortgage?


Buy-to-let mortgages are designed for individuals who plan to rent out the property they are purchasing. Anyone can apply, provided they meet the lender’s requirements.

Deposits tend to be higher for buy-to-let mortgages (usually between 20% and 40%), as do interest rates and fees. The potential borrower must therefore be able to show that he or she can raise the deposit and afford to repay the mortgage (the latter should be covered by the property’s projected rental income).

Lenders general require that rental income will be 25% to 30% higher than the monthly mortgage repayment amount and thus maximum borrowing is linked to rental income expectations.

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*The information provided should not be taken as financial advice in relation to the UK property market or property investment advice.

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