If you are looking to purchase a property to rent out for investment purposes then a Buy to Let mortgage is for you. These mortgages are based on the rental income from the property not your personal earnings.
There are a number of rental strategies and investment styles when it comes to Buy to Let. Some buy into personal names while other may buy into a Limited Company or Limited Partnership. This is an area with a wide variety of options, to understand your requirements it is best to give us a call.
Buy to Let mortgages are designed for rental properties, their affordability is based on the rental income from the property and they usually on an interest-only basis.
The rental income from the property is used, it must exceed the mortgage payment by a certain amount. Lenders vary on their exact calculations on how much income can be used.
Lenders need to know that should the property be vacant, you have an additional form of income to cover any payments. However, there are some lenders who have no specific minimum amount of income.
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