Buy to let mortgage UK

As an insurance broker specialising in buy to let insurance we have seen a clear niche in the market for landlords looking for the best buy to let mortgage in the UK which is why this website has been setup to provide help for property owners looking for a good deal.

When looking around for the best buy to let mortgage for your let property you would often be advised to make use of a mortgage broker, for example The money centre are one of the UK's largest companies specialising in buy to let mortgages and take the hassle out of arranging a mortgage for your property which you let by searching around multiple suppliers on your behalf to make sure you get a great deal!

There are many lendors out there offering competitive mortgages such as the following company:

Northern Rock - They provide phone support for mortgages, together, lifetime and gold service (existing northern rock customers, moving home).

Benefits of using The money centre for your mortgage needs:

• An instant online buy to let mortgage quote system which is updated every day meaning you can get a comparison of different mortgage offers from a wide range of lendors by filling out one short form.


• Apply online and a decision in principle will be given within 24 hours.


• Different lendors they deal with may have lower interest rates than others.


• You will be assigned to a dedicated mortgage consultant who will help you from stage one of obtaining quotations to the final arrangment of your buy to let mortgage.


• Expert financial buy to let mortgage advice.

Buy to let mortgage

There are many factors which could possibly have an effect on your mortgage application for your buy to let property. For example if you have a bad credit history then you may find that there are less lendors able to provide you with credit.

The best way to check your credit rating is to apply for a copy of your record from Experian or Equifax which are credit reference agencies which hold credit records of people living in the UK. Such agencies may be approached under the following circumstances:

• Your buy to let mortgage broker may want to check your credit history to decide if lending you money would be a secure investment.


• If you are making a major purchase from a store such as a £10,000 kitchen and want to pay monthly they may check your credit record to see if you have had any problems paying debts.


• To prevent fraud some companies may contact a credit reference agency to make sure you are infact who you say you are and that the details you have supplied appear to be accurate.

As a landlord, the properties you own are probably the biggest investments you have ever made and to increase your portfolio you may feel the need to arrange buy to let mortgages for your properties located within the UK which is why this resource has been setup.

The key to being a successful landlord is to invest in properties which are likely to be an easy earner, for example a low cost property in an area which has housing problems due to the lack of properties in the area, this niche would obviously allow a landlord to take the opportunity to make alot of money. However lack of funds can obviously put a landlord in a difficult situation which is why an immediate buy to let mortgage may be a viable option.

The following can all be a useful way to start your hunt for the perfect property:

Talk to local property mangagement companies and ask for advice on local properties, the letting options and the demand for properties in the area.

Approaching estate agents can be great for professional advice but you need to remember these people are there to make money so be prepared to put your hand in your pocket!

If you are looking to arrange a UK buy to let mortgage for a student let property then you way want to contact the local university accommodation offices to ask for advice with regards to popular local areas for let properties or any known trouble areas.

Many mortgage providers will not release any funds without seeing proof of a valid landlords insurance policy where you have at minimum a landlord building insurance policy in place to provide cover against perils such as fire, theft, earthquake and subsidence.

There are several factors which can have an effect on your mortgage for a buy to let property, for example when making an application you may be asked the following questions.

• The value of the let property which you need a mortgage for.


• The type of property, for example a house, flat, maisonette.


• The loan/mortgage amount required.


• The monthly income generated from letting the property to be mortgaged.


• The number of other properties you currently own.


• If your intention is to ever live in the property yourself instead of letting it.


• Whether or not you own any commercial properties.


• Your annual income and if you can provide proof of this income by way of payslips of accountant


• Buy to let insurance


• The type of buy to let mortgage you want; for example: best buy, tracker, fixed rate, bank base tracker, lifetime tracker or a mortgage which doesn't make any early repayment charge.

When arranging your buy to let mortgage in the UK you should take into account that you will usually need to provide at least a 15% deposit for any property which you are buying to let. Obviously the amount you are allowed to borrow will depend on your personal circumstances and the answers to the above stated questions.