Buy to Let Mortgages

Buy-to-let mortgage or remortgage

A buy-to-let mortgage (sometimes called a landlord mortgage) is a secured loan which has been designed for those who want to invest in a property to rent out to others, either as a short-term holiday let or residential lease for tenants or students.

The buy to let mortgage marketplace is competitive and expert advice is vital. Buy-to-let mortgage interest rates and deals can differ to those for a home you plan to live in and are often more costly. Lenders may consider that these types of mortgages pose a higher risk or treat them as business transactions and require a higher deposit for a lower loan to value rate. You should also be aware of the tax implications associated with property investment, and Stamp Duty Rates are higher.

Whether buying your first Buy to Let property, adding to your property portfolio or remortgaging, our specialist knowledge will help you find the right buy-to-let mortgage for you and your personal circumstances.

Some buy to let mortgages are not regulated by the Financial Conduct Authority.

Karen Latimer - Mortgage Adviser at Stan Sherlock Associates Ltd - Financial Planning Consultants in Carlisle
Tom Graham:
Mortgage & Protection Adviser

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Frequently Asked Questions

How do buy-to-let mortgages work?

Buy-to-let mortgages were created specifically for those looking to invest in property to create a rental income stream and potential long-term capital appreciation. They tend to revolve around three crucial factors, the deposit, loan to value ratio and the interest cover ratio (ICR). You may be able to obtain a buy-to-let mortgage with a deposit as low as 20%, although many of the more attractive rates start with a 40% deposit.

The ICR is the rate by which rental income on the property will need to exceed mortgage payments. The lowest ICR tends to be around 125%, but it can be as high as 145% and above. For example, with a 125% ICR, you must achieve £125 rental income per hundred pounds of mortgage repayments. This ensures that buy-to-let mortgage lenders have a degree of cover between mortgage payments and rental income streams. There are also the traditional technicalities and legal issues associated with a standard property purchase.

Want expert Buy-to-let mortgage advice?

Mortgage Advice Services in Carlisle, Cumbria

Why work with us?

At Stan Sherlock Associates, arranging a buy to let mortgage or remortgage is not a one-off transaction.  We aim to build long term relationships with our clients and provide you with an advice service over the lifetime of your mortgage or mortgages which ensures you always have the right deal for your situation.

Although based in Carlisle, our clients come from much further afield. We regularly work with clients from across Cumbria (including Kendal, Keswick, Penrith, Whitehaven and everywhere in between), the Scottish Borders, and North East England.  Many of our mortgage advice services can be provided by phone and email but our mortgage advisers are always happy to meet you face to face.

Disclaimer

The information on this website is for use of residents of the United Kingdom only. No representations are made as to whether the information is applicable or available in any other country which may have access to it.

Contact Us

A: 26 Lowther Street, Carlisle, CA3 8DA
T: 01228 598821
E: info@stansherlock.com

Company Information

Registered Address: 26 Lowther Street, Carlisle, Cumbria CA3 8DA
Company Number: 05718865

STAN SHERLOCK ASSOCIATES LIMITED IS AN APPOINTED REPRESENTATIVE OF THE OPENWORK PARTNERSHIP, A TRADING STYLE OF OPENWORK LIMITED WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. SOME BUY TO LET MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

THE VALUE OF INVESTMENTS AND ANY INCOME FROM THEM CAN FALL AS WELL AS RISE AND YOU MAY NOT GET BACK THE ORIGINAL AMOUNT INVESTED.

Approved by The Openwork Partnership on 01/11/2023