Buy-to-Let Mortgage UK Mortgage definition

UK Mortgage definition

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Buy-to-Let Mortgage

To purchase property as an investment in the private rental sector you will need a Buy-to-Let Mortgage. Your finances are assessed as though you are the person occupying the property. The assessment can be based on projected rental income and/or your earnings dependent on the lender’s lending policy. Where the assessment is based on rental income, most lenders would expect rental income to be at least 30% higher than the mortgage repayment value. You will probably not be lent more than 80% of the property value.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

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