Best Buy To Let Mortgage Offers
While it is important that you demonstrate a steady income, your mortgage lender will usually arrange a buy to let mortgage loan for you if the rental income alone will cover your future mortgage repayments. However, this is an inherently risky practice for mortgage lenders (especially in the current economic climate), so it is very important than ever to prove that you have the finances to repay your mortgage if problems occur with your rental income.
It is advisable to set your rental income at around 130% of your monthly mortgage payments. This will provide reassurance to your mortgage lender that you will be able to make your monthly mortgage payments.
If you are in doubt which deal is right for you please use our buy to let mortgage quote and advice service.