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BUY TO LET MORTGAGES MORTGAGE BROKERS


Buy to let mortgages by mortgage brokers working in the private rental sector. Competitive quotes, low interest rates for investors in the buy to let mortgage rental sector.

Here you can find mortgage brokers who are specialists in helping investors in the buy to let mortgage rental sector.

To request information to find the best mortgage deal for you, please click here.

You can use our free mortgage calculators to calculate your borrowing limits for mortgages and remortgages, by clicking here.

Are you thinking of entering the buy to let market? Our twenty step guide can help you through the maze.
  1. You can usually borrow a maximum of 80 per cent of the value of the property on a buy to let mortgage.

  2. Talk to local estate agents about properties that are most likely to be let in the area and their average monthly/annual rental yields.

  3. Research buy to let mortgage types and apply for an offer in principle if you spot a suitable deal. You will be expected to produce expected rental yields in addition to salary details.

  4. Determine the deposit you have available. Also calculate and budget for buying costs such as surveys, fees and furnishings.

  5. If the property is old, you should arrange for a Homebuyer's Report or a full structural survey. This is essential as you will be responsible for maintenance.

  6. Instruct your solicitor to carry out the conveyancing and provide them with details of the property, estate agent, seller and your mortgage lender.

  7. Your mortgage lender receives a valuation report and, if everything is in order, agrees the mortgage.

  8. Your solicitor carries out a local authority search and confirms the legality of the title deeds. If all is in order, the solicitor will draw up the contract and send you the legal paperwork.

  9. Pay the deposit, sign and return the contract and the solicitor will exchange contracts and arrange a completion date. You are now legally committed to the sale.

  10. If the property is freehold, you must get adequate building insurance cover in place from the time of exchange (before completion).

  11. Get quotes for any building or renovation work and decorating that may be necessary prior to making an offer.

  12. On completion day call the seller's estate agent to pick up the keys. The property is now yours to let.

  13. Get the builders in as soon as you can. Advertise for tenants just before the work is completed.

  14. Only arrange to meet prospective tenants and show them the property once the property is ready.

  15. On finding suitable tenants, arrange for them to supply you with employer, bank and personal references. Make sure you check these and don't take the house off the market until the references are confirmed and a holding fee paid.

  16. Get a deposit of one month's rent to confirm the tenancy. If the rent is to be paid by standing order, arrange for this to be set up.

  17. Make last minute preparations to the property to ensure that it meets health and safety requirements and write a comprehensive inventory.

  18. Draw up a standard tenancy agreement.

  19. Contact utility companies and the council to arrange for bills to be transferred into the tenants' names.

  20. Get a month's rent in advance on the day the tenants move in. Ask them to sign the tenancy agreement and the inventory. Hand over the keys.
You can use our free mortgage calculators to calculate your borrowing limits for mortgages and remortgages, by clicking here.

To request information to find the best mortgage deal for you, please click here.