Compare Buy To Let Mortgages For First Time Buyers
When looking for a buy to let mortgage deal for first time buyers, it is important that you can put a sizeable deposit down - anything less than 25% will mean that you will probably not get a great deal - if you can put closer to 40% down this will give you greater choice in choosing a good buy to let mortgage product.
When searching for an appropriate deal, there are several important factors that should be taken into consideration, including:
- The estimated income from renting the property set against the cost of mortgage repayments
- Interest rates on different mortgage deals
- the size of the deposit, as most lenders will usually require this to be around 25% of the property’s value
- Its location and how high the demand for rental property is in the area
- The type of tenants the property will be let to, (students, families, professionals etc)
The mortgage comparison table provides a quick and easy way to see what buy to let deals are available to first time buyers at the moment. If you require independent buy to let mortgage advice please call our mortgage team on 0117 332 6063 or complete our enquiry form.