If you are thinking of getting a mortgage in order to allow you to buy a property for rental purposes, shopping around is a good idea. We search the entire market to give you a great buy to let quote, allowing you to choose the finance option that perfectly suits your situation and requirements. Obtaining a buy to let quote allows you to compare other providers, and could save you a lot of money over choosing the first provider who seems to be offering what you need.
Buy to let quote online
Getting a buy to let quote online is the easiest method of examining mortgage rates when you are considering getting a buy to let mortgage. Most lenders have the facility on their website to obtain a buy to let quote online, allowing you to see interest rates, arrangement fees and monthly premiums. You can usually borrow up to between 75 and 80 per cent of the value of your property. As you will have to put down a deposit of between 15 and 20 per cent, getting quotes first can help you assess whether it is a viable financial option for you.
Buy to let payments
When searching for mortgages, the amount you will have to repay each month is probably going to be the most important factor for you. Getting a quote allows you to see what buy to let payments will be. This makes it easier for you to calculate the amount of rent you would have to charge, the profit you would make, and the type of property you could afford to buy. Finding out what your buy to let payments will be allows you to ensure that going into the rental market really is a viable for you financially.