Buy To Let mortgages
If you’re purchasing a property as a rental investment, a buy to let mortgage makes it possible to get a great mortgage deal.
Designed with landlords in mind, the amount you can borrow is typically directed by the income you’ll earn when renting out the property. Our experienced buy to let mortgage advisers are here to help you find the right mortgage rates that will deliver the financial rewards you desire from your investment.
Whether this is your first rental purchase or you already have a property portfolio, talk to our expert Buy to Let mortgage advisers in Birmingham about your financial situation today and we’ll help you find the right mortgage to suit your needs. Call us today on: 0345 066 6555 or drop in to see us in Birmingham at Coleshill Road.
What is a Buy to Let mortgage?
Most lenders prefer landlords take out specialist buy to let mortgages for rental properties rather than standard mortgage product because there is perceived to be an added risk for lenders.
How is a buy to let mortgage calculated?
The most popular buy to let mortgages are usually interest only mortgages which have lower monthly repayments although the amount you pay can be changed at any time by your lender.
With an interest only mortgage you will be paying off the interest on your mortgage every month. Once your mortgage terms come to an end the full cost of the mortgage will be due.
Deposit and LTV (Loan to Value)
Most lenders will expect your monthly rental income to exceed your mortgage repayments. You’ll also need a deposit for around 25% of the value of the property you want to buy meaning your LTV (loan to value ratio) will be about 75%.
For a property worth £200,000, if you have a 25% deposit for a buy to let mortgage, your LTV would be 75% so your buy to let mortgage would be for £150,000. You can also expect to pay higher interest rates than those on a standard mortgage.
Our highly experienced Buy to Let mortgage advisers in Birmingham are here to discuss the process and all your best options with you today. Call us on: 0345 066 6555.
Fixed vs Variable Rates
With a fixed rate mortgage, you’ll pay a set amount each month, whilst the payments on a variable rate mortgage can change at the discretion of your lender.
Interest only mortgages
Lots of people opt for an interest-only mortgage because they usually offer lower monthly payments, although you will only have cleared the interest on your mortgage when your mortgage terms come to an end.
Mortgage terms
The terms of your mortgage are the length of time you will take you to pay off the cost of the property. In most cases terms are set for 25 years, although they can be agreed for 35 or 40 years.
Buy to Let Stamp Duty
As a landlord you will be required to pay an additional 3% on the standard stamp duty rate for your property.
Buy to Let mortgages for companies
If you are purchasing a property as a limited company, you could be eligible for a limited company buy to let mortgage.
Buy to Let for portfolio landlords
If you own four or more rental properties with a mortgage on each, you could qualify for a landlord portfolio buy to let mortgage.
Switching to Buy to Let mortgages
We make it simple and easy to switch to a buy to let mortgage.
Discuss all your options and financial goals with our experienced mortgage brokers in Birmingham today. With access to 100s of the right buy to let mortgage deals we’ll find the right mortgage for you. Call: 0345 066 6555 or drop in to see us at Coleshill Road, Birmingham.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Some buy to let mortgages are not regulated by the Financial Conduct Authority.
Stamp Duty Calculator
Need to work out how much stamp duty you’ll pay? Use our stamp duty calculator to crunch the numbers for you and uncover your potential land tax obligations.
What our customers say about us
Sold my house with Arden, very professional service, quick sell and at my asking price. Will definitely use Arden Estates again.
Sam Ansell
The most professional estate agency in Ward End. I have tried others and will not move from this letting's agent.
Parma Singh
Exceptional service at this Estate Agent both in buying and selling properties and invaluable service with their letting service. Very highly recommended and efficient reliable service. Simply the best.
Veronica Morgan
Very helpful and professional estate agents. They will go out of their way to try and help you and they always have the time to explain to you what's happening. Would definitely recommend!
Mell Cath
We recently sold our property through Arden Estate Agents, and having failed to sell through another local estate agent we tried Arden's after they were recommended to us, I am so glad we did, as they sold our house within a couple of days and kept us in the loop throughout the entire process. I would genuinely recommend them to anybody who wants to sell or buy a property.
John Reid
Exceptional. From meeting at the valuation to sales completion, Arden provided an honest, professional service throughout. Tony and Paul kept me updated with progress from finding a genuine purchaser to ensuring we experienced no unnecessary delays. I highly recommend them. My only regret I didn’t knock their door first. Exceptional.
Declan Galligan
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Frequently asked questions...
How should I prepare my property for sale?
How should I prepare my property for sale?
First impressions count! We will work with you to advise how best to present your property. It is helpful to clean and declutter your property as best you can before sale. Keep pets out of the picture and clean the areas that are often missed such as skirting boards, window frames and doors. Remove any cobwebs. Kerb appeal is very important - tidy up your driveway to improve initial appeal to prospective buyers.
How do viewings work?
How do viewings work?
We will accompany and arrange all viewings for you according to your schedule.
How do I arrange a valuation?
How do I arrange a valuation?
You can arrange a valuation easily via our website. Either select ‘Get a free valuation’ from the homepage or navigate to the Contact us Page. Fill out the contact form including details of your request, the property address and a date and time to suit you. Ensure to add your contact information. Book a free valuation.
