In calculating the affordability of a Buy To Let
Mortgage , lenders will make an assessment of the rentability
of the property, and assess the expected rental value per month
- i.e. how easy they feel it will be to rent the property out,
and what the expected / anticipated monthly rental income will
be. Different lenders use different rental equations / calculations,
but the standard is that the anticipated rental income must
equal 125% of the monthly mortgage payment. Some lenders will
take the applicants income into consideration also if the rental
cover is tight. Although there have occasionally been 90% LTV
products available on Buy To Let products, the minimum deposit
tends to be 15% (a maximum LTV of 85%).
To help you find the most appropriate buy to let
mortgage deal to meet your unique and specific needs, it is
of great importance to obtain Independent Advice from a qualified
Independent Mortgage Adviser, who works for you, not
for a panel of lenders.
When choosing a buy to let mortgage or
any other type of mortgage, we believe it is best to get qualified
independent advice.
We
believe the Best advice is Independent Advice
Our service can introduce you to independent advice
companies with access to thousands of mortgage deals provided
by UK lenders.
