If you are self employed and you intend to take out a buy to let mortgage loan, you must be able to demonstrate a steady income. As well as being self employed, it is important to prove you have a good credit history.
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.
See below for a selection of buy to let mortgage deals. If you are in doubt which deal is right for you please use our buy to let mortgage quote and advice service.