It is important to shop around and use a buy to let mortgage calculator before deciding which mortgage provider to go with, to ensure that you get the best deal available to you. Buy to let mortgages are designed specifically for those who wish to invest in property in order to increase their income or capital gains.
Features of a buy to let mortgage include:
- The percentage of the purchase price that a lender will provide is likely to be restricted to 80%.
- The income from potential rent is taken into account when applying, meaning you can borrow more.
- Interest rates are often higher than with standard mortgages.
- The term of the mortgage is likely to be from 5-45 years.
Many advantages of standard mortgages are often available for buy to let mortgages, such as fixed, tracker or flexible interest rates. Our mortgage calculator can compare deals from some of the leading providers of buy to let mortgages and help you to find the best deal for your requirements and circumstances.