We help our customers secure the very best buy to let mortgage for their needs, from a choice of over 80 UK lenders…
A buy to let mortgage is designed to allow you to purchase a property, in order to rent it to a third party in exchange for a rental income, from a single tenant or from multiple occupants.
Whether you own a single property, a large multi-property portfolio or anything in between, we will get you the very best deal we can find, from thousands in the marketplace…
Get a decision on a great deal TODAY…
At Commercial Trust our buy to let mortgage advisors are here just for YOU.
Our experienced team of buy to let mortgage advisors specialise in understanding your needs properly, to ensure that they find you the most appropriate, cost-effective solution possible.
Whether you are looking to purchase your first buy to let rental property, add another property to an existing rental / portfolio or simply check that you are on the best deal possible, we are here to help you, whenever you need us…
We’ll even do the paperwork for you and process the documentation, saving you time and leaving you free to enjoy the rental income!
A wide range of investors can secure a buy to let mortgage. We can help:
Some buy to let lenders do not set a maximum applicant age. If you are retired, you can still get a buy to let mortgage. Securing a buy to let mortgage in retirement is subject to wider criteria, as any application is.
If you are 60 or 70 years old you can get a buy to let mortgage. If you are 75 years old, or more, you still may be able to get a buy to let mortgage.
Buy to let mortgages are always subject to a range of factors. As long as you are older than 18 years old, your age, on its own, will not stop you getting a buy to let mortgage.
The good thing about a buy to let mortgage is that the loan amount is commonly based on the rental income of the property, not your personal income (with the exception of first time buyers).
This is one of the key differences between a buy to let mortgage and a mortgage for your own home.
Buy to let mortgage lenders will require the rent to exceed the monthly mortgage payment. The amount the rent must exceed the mortgage payment differs by lender and product.
We can help you borrow the maximum possible, based on your circumstances.
There is no limit to the number of buy to let mortgages any one landlord can have.
Some lenders will limit the total number of mortgages you can have with them. Others will limit both the number of mortgages and the overall amount of money you can borrow.
The other restriction a lender may place is the number of buy to let mortgages you have with all lenders you are borrowing from, across your portfolio.
With such a range of lenders in the marketplace, there are a number of options available.
Lenders have criteria on how much money they will lend. Maximum loan amounts range from no limit, to a capped amount of hundreds of thousands, or millions, of pounds.
The amount you can borrow is largely determined by the rental income your property will make.
So, whilst a lender may be prepared to give you a loan of up to £2,000,000 (for example), if the rent the property will make does not support this level of lending, the loan amount will be smaller.
You can get a buy to let mortgage as a first-time buyer. There are a number of buy to let mortgage lenders who will lend to first-time buyers.
The lender must be satisfied that a first-time buyer is not going to live in a buy to let property. This is because you cannot live in a property that is funded by a buy to let mortgage in your name.
If you want to own your property outright, at the end of the term, you should get a repayment buy to let mortgage.
Repayment buy to let mortgages pay back the lump sum you borrowed, the ‘capital’. Repayment mortgages also pay off the interest a lender charges you for borrowing the money.
All mortgages set out a period of time over which you want to borrow the money for. This is called the ‘term’ of the mortgage.
Repayment buy to let mortgages mean you own the property at the end of the term.
Interest-only buy to let mortgages only pay back the interest the lender charges. You will not repay the lump sum you borrowed.
If you have an interest only buy to let mortgage, you have to repay the lump sum you borrowed another way.
You can repay the lump sum borrowed with a mortgage by taking out a new mortgage, with savings, or by selling the property.
Buy to let mortgage affordability is generally based on the rent. So, you need to find out how much rent you can charge.
Property portals may help you look up similar properties, to see how much rent is being charged.
Be realistic about the similarity between two properties. If the physical size of the property is the same, but one property has a garden and the other does not (for example), the rent you can charge may be different.
To meet mortgage affordability calculations, the monthly rent must be more than the monthly mortgage. This is because lenders must ensure a mortgage will still be affordable for you, if your financial circumstances changed.
Yes. If you are moving out of your residential home so you can rent it out, you can switch from a residential mortgage, to a buy to let mortgage.
You can also switch onto a buy to let mortgage and increase your borrowing, so you raise capital for the deposit to buy another residential house. This is called “let to buy”.
Yes. Buy to let mortgage rates are different from residential rates. They are different types of product, with different criteria.
You cannot get a standard, residential mortgage on a property that you will rent out indefinitely.
If the property is your home and you want to rent it temporarily, you can ask your lender to give you ‘consent to let’. There may be an additional cost associated with this.
Some buy to let lenders will accept applicants whose only income is from rental property.
We also work with lenders who do not have a minimum income threshold. This means that even if you have a very low income, we can help you.
If a lender has a no minimum income rule, they may still want you to prove the income you do receive (e.g. rental, pension, full, part-time or self-employment).
If you have a high levels of savings and do not need to work, we can also help.
Some lenders do impose a minimum personal income requirement of £18,000 – £25,000. Large numbers of lenders do not ask for a specific amount in personal income.