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How to get a Buy to Let mortgage
Thinking of becoming a landlord? Let’s explore what it takes to find a property that will perform well for you, then secure a finance deal that will remain affordable and sustainable.
How the Buy to Let mortgage application process works
Step 1: Decide what – and where – you want to invest in
The type and location of your property will have a huge bearing on how much you can expect to earn from it, and how profitable it will be in the longer term.
Before settling on an investment opportunity, you will need to look at what kind of demand there is for rental accommodation in your chosen area, what kinds of tenants are likely to be attracted to your property, and what its potential monthly or yearly yield might be, based on the fees that other landlords are charging.
If you would rather rent out your current property and move elsewhere, it might make more sense to secure a Let to Buy mortgage. You can learn more about Let to Buy mortgages here.
Step 2: Get all the necessary information together
Private Buy to Let mortgage criteria vary from lender to lender – but generally speaking, mortgage providers offering BTL finance will want you to:
Be aged between 25 and 75
Have a deposit of at least 25% of the purchase price in order to achieve a minimum Loan to Value (LTV) of 75% – although it’s worth putting a little more down if you can, as this will give you access to the best deals
Have a good credit history, with little to no evidence of CCJs, IVAs and other financial red flags
Prove that you will be able to generate enough income from your Buy to Let property every month to cover your mortgage payments, plus bills and other maintenance costs
Step 3: Let us handle the rest
Our Buy to Let mortgage brokers can help you collect all the information and documentation you need to submit a strong application that has an excellent chance of being approved.
Once we are confident we have everything we need to meet lenders’ requirements, we will scour the entire market to find the mortgage providers that will be likely to accept your case, and the products that will best suit your circumstances. We’ll then apply to these companies on your behalf, saving you the time and hassle of contacting each potential lender directly. What’s more, we’ll manage the entire transaction from enquiry to completion, and will do everything in our power to make sure your Buy to Let mortgage goes through as quickly as possible.
Your team at CLS Money
Our expert Buy to Let mortgage brokers truly are some of the best in the business. Experienced, knowledgeable, and armed with access to hundreds of deals, our advisers are fully equipped to guide you through your BTL mortgage application. They are trained to ensure your experience is as fuss-free as possible, and they will always work with your best interests in mind to ensure you find a Buy to Let scheme that will work for you now and in the future.
Here are just a few more reasons to choose CLS Money:
Specialist Buy to Let mortgage advice
Over 2,000 5-star reviews from happy customers
Free, no-obligation consultations
Evening and weekend appointments available
Poor credit histories considered
Comprehensive support, from enquiry to completion
Track your mortgage progress via our App
Access to specialist mortgage lenders
6 reasons to choose CLS Money
Mortgages that suit you
No matter your circumstances, we are here to get the right mortgage for you.
Appointments at your convenience
We can meet you seven days a week from 8am to 8pm at a place that suits you, whether it be at your home, place of work or our offices.
Free of charge, no obligation advice
Our advice is completely free and there is no obligation to proceed with us if you are not entirely satisfied with the mortgages we recommend
At your side
We handle the entire mortgage application process through to completion, liaising with your lender, solicitor and estate agent to deliver a smooth, stress-free experience
With you all the way
As a responsible broker, we want your mortgage to always be the best fit for you. So when it's time to review it, we will be here to help.
Protecting what matters most
We provide tailored life and home insurance solutions, so you can be assured that your loved ones and possessions are protected.
How it works
3 simple steps to securing a mortgage with CLS Money