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... Read More »