Buy-to-let mortgage

A buy-to-let mortgage has become very popular as more and more people in the UK now own second homes as investments.

Buy-to-let mortgages differ from standard mortgages in that the amount banks or building societies will lend is assessed upon the expected rental income of the property rather than personal income.  However, it is usual for not more than 90% of the purchase price to be available on a buy-to-let mortgage, meaning that you will need a minimum of a 10% deposit.

Lenders may also impose other restrictions or conditions on applications for a buy-to-let mortgage such as UK residence, being 21 or over as well as being an existing homeowner.  It is also expected that the property will need only minimal improvements before being rent worthy.

For further information please see our dedicated section on buy-to-let.

John Charcol is not authorised to offer investment advice.  We recommend you seek professional advice with regard to these topics if you believe they may affect you.

Terms & conditions

Your initial mortgage consultation is obligation free. There will be a minimum fee for our mortgage service of £450, of which £150 is payable when you apply, and we will retain the commission from the mortgage lender. Alternatively, you can choose the fee only option which is typically 0.65% of the amount borrowed. The precise amount will depend on your circumstances and mortgage loan amount, and will be discussed and agreed before you make a mortgage application.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT

Legals

John Charcol is a trading style of Towergate Financial (West) Ltd, which is authorised and regulated by the Financial Services Authority; our registration number is 147692. John Charcol Associates LLP is an appointed representative of Towergate Financial (West) Ltd, which is authorised and regulated by the Financial Services Authority.  Registered office: Towergate House, Eclipse Park, Sittingbourne Road, Maidstone, Kent ME14 3EN. Registered in England No: 02292688.  This mortgage site is only directed at persons within the UK.   The FSA does not regulate some investment mortgage contracts.  Calls may be recorded for training and monitoring. Max call charge from a BT landline is 3.9p per minute. Calls from other networks may vary.