Guide to buy-to-let mortgages

When it comes to investing in a property, there are many different options available. Buying a property to then rent out is a popular way to build a property investment.
It is usually best to choose a set rate or tracker mortgage. Many buy-to-let landlords prefer the steadiness of a set rate mortgage, so outgoings are steady and predictable for an extended period. Buy-to-let mortgages became more competitive recently as lenders lower interest rates to keep the market moving. Unlike homeowner mortgages that look into salary and expenditure, buy-to-let mortgages estimate affordability based on potential income from rent. You’ll have to show that you can collect rent amounting to a minimum of 125% of your annual mortgage interest payments.
Using an independent broker to seek out the buy-to-let mortgage that’s most fitted for you’ll be very helpful. There are such a large amount of products on the market it’s really important to try and do your research to search out the most competitive deals on offer and balance up the pros and cons of the available options.