Buy To Let Mortgage Advice
The key to making a Buy-To-Let venture work for you is finding the best possible mortgage deal. That is why it is so important to take impartial advice - especially in today's market. While Buy-To-Let mortgages are similar to residential home loans, there are some very important differences that our expert advisor can help you get to grips with. For example, Buy-To-Let mortgages require a larger deposit than regular loans (typically 25%) and the rent will have to cover your interest payments on the mortgage by at least 125% (% depends on the lender). Buy-to-let mortgage rates tend to be higher than conventional mortgage rates. You should set money aside for arrangement fees which can be as much as £2,000. The arrangement fee will depend on the lender and the product.