Do I qualify for a Buy-to-Let mortgage?

28th March 2020

If you’re thinking of taking out a buy-to-let mortgage, you’ll need to satisfy the following criteria:

  • You own your own home – either mortgaged or owned outright.
  • You want to invest in houses or flats that you’ll rent out to tenants.
  • You have a good credit score and don’t have too many other borrowings that could make it hard for you to maintain your buy-to-let mortgage repayments if the property is unoccupied.
  • Lenders have varying upper age limits, which will refer to the oldest you can be when you take out a buy-to-let mortgage.
  • You understand the risks associated with investing in property. You’ll know that rates can go up as well as down and a mortgage is secured on your property – if you don’t maintain your mortgage repayments, you home could be repossessed.

If a buy-to-let mortgage sounds like the right type of mortgage for your next property purchase, your first step should be to talk to an independent mortgage adviser who has access to the best buy-to-let mortgage deals on the market. Your mortgage adviser will also be able to tell you if you qualify for a buy-to-let product.

Talk to our team of expert mortgage advisers today to find out more about buy-to-let mortgages. Call us on 08454 500200 or click here to make an enquiry.

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Buying our first house was extremely stressful as you can imagine, Chawley really made our mortgage journey extremely smooth and I will always be grateful for that! He was extremely professional and held our hand through the process, it was all very new to me but Chawley explained all the steps and insured I understood. I will 100% be recommending him in the further, great guy!

Kloe C

April 2020

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