Finding a Buy to Let mortgage that's right for you
For anyone contemplating Buy to Let, it's important to carefully consider what type of mortgage to take out. But with the market place offering so many Buy to Let mortgage options, working out the right one for you can be confusing.
The amount you will be able to borrow is based on the potential rental income of the property you are considering. So when looking for properties, try to find out what rental income other similar properties in the area command; this will be a good guide. To further help you find your way through the Buy to Let maze we've created a simple Mortgage Selector tool.
There are two different ways you can use this tool
Which way you choose will depend on your personal starting point.
- You already know how much you can borrow, but don't know how much rental income you need to meet the mortgage criteria.
Or
- If you already know how much income your property could generate, but don't know how much you could borrow.