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Buy To Let Mortgages

Buy to let mortgage advice

Finding a mortgage to let can be a daunting task. We are here to help.


What is a Mortgage?

A mortgage is an agreement between yourself and a lender that gives the lender the right to take your property if you fail to repay the money you’ve borrowed plus the added interest. Mortgage loans are used to buy a home or to lend money against the value of a home you may currently have in your possession.

Why should you get a mortgage as opposed to renting?

With the average house prices and rent constantly rising, it can be quite a conundrum to figure out what best suits your needs. But a mortgage in this day and age is still the best way to go.


Benefits of Getting a Mortgage:

  • Getting onto the property ladder is a sense of accomplishment, as you are making a huge investment and are a proud homeowner. This process is fully completed in roughly 25 years, in which you own the home outright.
  • You could make a profit if house prices rise.
  • You don’t need permission from anyone if you want to make adjustments or be a pet owner.
  • Any maintenance works or changes to the property, such as building an attic, could increase.
  • A landlord can’t force you out.
  • You have something of value which can be passed on when you die.

How Much Deposit Do You Need to Buy a House?

There are some really low rates available to first time buyers for mortgages in the UK at the moment and the more deposit you have, the better rate you could get. Ideally, for first time buyers the advice would be to gather up a deposit that would be 10% of the property value.

That being said, there are lenders out there that do accept applications with just a 5% deposit. These criteria change regularly and so the best advice would be to check in with us to see what is available in terms of products and your affordability.


Disadvantages of Renting:

  • A mortgage allows you to be a property owner, this is in stark contrast to renting, in which you don’t actually own the property- this can continue for the rest of your life.
  • Here’s a fact to blow you away, according to Zoopla, renters are now paying an astounding £962 per month- which is an increase of £62 since the start of the pandemic.
  • As the cost of living increases, the average rent now accounts for 37% of gross income for a single earner, which is up from 34% during most of 2021.
  • If your landlord decides to sell or bring in new tenants, you will be given your marching orders.
  • Your landlord could decide to increase the rent.
  • You won’t reap the benefits of any increase in property value.
  • Improving the property could increase its price, but here’s the catch- this only can be beneficial to the landlord.

It’s important to look at why a mortgage is the best option to look at and through your search for the perfect mortgage, you might find out an overwhelming choice of mortgages, some of which are listed below:

As you can see, there are quite a few choices available, but in this instance let’s dive into the buy-to-let mortgage.

Buy-to-let mortgages

Buying to let is a major thing when it comes to the property market. Buy to let mortgages are a long term investment that you have to be fully committed for. Essentially , they are for landlords who want to buy property to rent it out.

To begin with, finding that first property to rent out can be a hard task, having a mortgage broker to assist you along the way could be the weight off your shoulders needed. Expanding on your rental property portfolio could most certainly be a worthwhile investment in the long term, but it’s not risk free as there are many hindrances you may encounter along the way. Such as the following:

  • A Increased tax bill.
  • If you don’t have the correct insurance in place, you may not generate an income if the property is unoccupied.
  • If property prices fall, your capital will reduce.

But don’t worry, that’s where we come into play.

Find the best buy to let mortgage

The Mortgage Mom can help you find the best Buy to Let mortgage offers out there, with over sixty years of experience between our dedicated team, and our industry know-how, we have a very good grasp on how to meet the needs of our customers. We will make sure you’ve all the information needed to help compare the best deals on the market.

With buying to let we can only advise on the range of mortgages on the market. We can’t help you decide if Buy to Let is right for you as a long-term investment.

Buying to let affordability

When buying-to-let you need to consider your affordability, so If you are looking to borrow more than the balance of your existing mortgage you will need to check how much you are eligible to borrow. Each mortgage lender is different and has a unique formula to work out what they could potentially lend to you. We will be able to check your affordability with these lenders,meaning you don’t need to spend your time doing this yourself.

Large panel of mortgage lenders

We have access to a large panel of mortgage lenders including the main high street banks and building societies, plus other lenders who are suited to clients with bespoke needs or adverse credit history.

We can ensure our buy to let mortgage advice services to be impartial, unbiased and the best fit for you. With thousands of buy to let mortgages on the market which change and update on a daily basis, our initial free mortgage advice service is consistently up to date with most recent products and follows the rate changes made by the lenders.

Why choose The Mortgage Mom for buy to let mortgages

With The Mortgage Mom’s help, your affordability will be checked with over 70 lenders across the market without you having to do any of the leg work. Following this, a clear selection of the most suitable buy to let mortgage solutions can be found for you.

There are thousands of products out there that evolve and change on a daily basis so it is worthwhile having a look to see what else can be offered in addition to any products offered by your local bank. We will do all of the work for you, saving you time and money for the best mortgage scheme.For more information, please don’t hesitate to get in touch today.

Speak to the Experts, Choose Mortgage Mom

We understand the complexities and confusion surrounding mortgages and pride ourselves on being able to offer mortgage advice for first time buyers, home movers and landlords throughout Birmingham and the UK. Our advice is bespoke and tailored to each individual client needs. Get in touch with us today.

Ready to Sort That Mortgage?

Getting a safe mortgage is essential when buying a new home. We are here to make sure that happens.

Contact us today.