Best Buy to Let Mortgage Call one of our independent mortgage advisers for advice on the best buy to let mortgages. Freephone 0800 801079

Broadly, there is little difference between arranging one of the best Buy to Let mortgage for investor landlord’s and a standard mortgage for owner occupation. The best Buy to Let mortgage are subject to the usual status checks. Loans can be arranged for terms of between five and 45 years and for up to 85% of the value of the property.

Typically the mortgage lender calculates the maximum Buy to Let mortgage based on the rental income covering the mortgage by 125% - 130% of the proposed monthly mortgage payments based on the standard variable rate on an interest only basis. Every lender calculates their maximum lending in a different way, but the following two calculations can be useful as a guide in determining either 1) the mortgage available if you know the rental income expected or 2) the rental income rquired if you know the maximum loan desired.

1) Rental income divided by 130% multiplied by 12 and then divided by the standard variable rate gives the maximum loan available. ie:-

£750 ÷ 130% x 12 ÷ 5.7%(SVR) = £ 121457

2) Loan amount multiplied by SVR divided 12 and then multiplied by 130% gives the rental income required ie:-

£121457 x 5.7% ÷ 12 x 130% = £ 750

Two features make property a particularly attractive investment. The best Buy to Let mortgage allow you to borrow the lion's share of the property value, whilst also enabling you to keep the growth in the value of the whole property - not just your deposit. This process is known as 'gearing' and is the key to the attractiveness of buying to let.

Example of best Buy to Let mortgage criteria.

• Minimum income of £10,000 & Income Multplies of 3.25 + 1 or 2.75 x joint salaries although some lenders have no minimum income requirements.


• Max No. of Properties 4 - Unlimited


• Max. Lending £2 million


• Max. LTV 85%


• Maximum lending per property is £1 million.


• Minimum acceptable property value or purchase price (whichever is lower) is £40,000 (£75,000 in London postal districts).


• Rental income must cover 125% - 130% of the proposed monthly mortgage payments based on standard variable rate on an interest only basis.


• Student lets, and lets to Local Authorities acceptable.


• Confirmation of anticipated rental income will be provided by the valuer as part of the valuation.


• The property may be let on an assured shorthand tenancy or to a company on a corporate let.


• The maximum term is 12 months. This can be renewed without the lenders consent.


• Holiday lets are generally not acceptable, although one or two lenders will..

To find out more about the best Buy to Let mortgage , simply complete either the Callback Request form or the Mortgage Quote form to receive details of the best Buy to Let mortgage to suit your individual circumstances. Alternatively call 0800 801079 to speak to a mortgage advisor.

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