Posted on 8 January 2013 by Keith
My wife and I are aged 56&55, if we owned our own place outright, and had a deposit of £20,000 to put down on a buy to rent property how many years would they allow the mortgage to be.
The term on a Buy To Let mortgage is less of an issue than on a residential one, as they are primarily assessing the case on the strength of the rental income likley to be generated. That said, lenders will typically look to cap the term at around age 75, though there are some that will go higher.
As John Charcol is an Independent, Whole of Market broker, there may also be other more cost effective ways to get you into the Buy To Let market.
If you'd like to discuss your enquiry in more detail, then please let me know and I'll arrange for one of our consultants to contact you.
More than mortgages, talk to me about:
Financial Protection | Investments | Personal and Corporate Pensions | Home Insurance
General Insurance | Valuations | Conveyancing | Wills | Home finders
Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.
We recommend you seek professional advice with regard to any of these topics where appropriate.