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The criteria for a buy-to-let mortgage

To qualify for a buy-to-let mortgage, you need to tick the following boxes. 

Investment in a property/across multiple properties 

You are an existing homeowner 

You have a good credit score

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How we can help

We provide you with support from start to finish, beginning with the application process to providing you with your own personal advisor. 

Advanced technology: We have created our own mortgage calculator and client portal to make the process as seamless and efficient as possible. 

We work with lenders to find deals to suit your needs

We provide Landlord Insurance on rental properties. This covers everything from property damage to legal action. 

Our strong relationships with leading insurers in the UK means we can find you suitable mortgage deals.

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Start your mortgage journey today

Get in touch by filling out our contact form or call us on 0330 118 0383 and book an appointment with one of our friendly brokers today. 


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Buy to let mortgage

How Our Expert Mortgage Advisers Can Help You

Here at Avail Mortgages, we are passionate about discovering our customer’s individual circumstances to assist us in locating bespoke mortgage solutions. Our transparent, honest and professional services aim to provide potential buyers with the reassurance and confidence they need in securing their home, rental property or investment property. We have a wealth of experience in finding mortgages for people with different backgrounds, financial situations and property goals.

Fancy getting into the property business? Looking to build a property empire? Whether you’ve recently come into some money and want to landlord it up in areas such as Leeds, Harrogate, York, Bradford or Huddersfield, or want to take your business to the next level in cities like Manchester, Liverpool and London, we can provide you with the Buy To Let Mortgage loan you need to make all this a reality. Our mortgage brokers know how to play it to find you suitable mortgage deals.

With our Buy To Let Mortgages, you’ll benefit from a fully supported mortgage application process, suitable mortgage rates and your own personal mortgage adviser who can help with any queries, questions, issues or concerns. Backed by mortgage technology – which includes our Buy To Let Mortgage calculator and our client portal – we make the mortgage process very easy.

To learn more about mortgages and how our mortgage advisers can help, please contact us today.


What Is A Buy To Let Mortgage?

A Buy To Let is the purchase of a property that you will rent out to a tenant. You may take out a Buy To Let Mortgage to buy the property, meaning you can purchase the rental property – whether that’s a house or flat – as an investment, rather than having to buy the house or flat outright.* You then let out the property and become the landlord to the tenants that rent it out. To recoup costs, you can charge rental payments to cover the mortgage, as well as other expenses. These types of mortgage has different criteria to a residential mortgage, due to the licensing and processes that come with renting out a home to a tenant.

Who Can Get A Buy To Let Mortgage?

You qualify if:

  • You want to invest in houses or flats.
  • You can afford to take a risk, as investing in property is a risk.
  • You already own your own home, as you may have trouble getting this type of mortgage loan, if you don’t already.
  • You have a good credit record and aren’t stretched too much on your other borrowings. Credit scores are big with mortgage lenders too.
  • You’re under a certain age. Many mortgage lenders have upper age limits – usually between 70 and 75 – and this is the oldest you can be when the mortgage ends, not starts.
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How Does A Buy To Let Mortgage Work?

So how exactly does a Buy To Let Mortgage work? Unlike with residential mortgages, you may be able to take out this type of loan on an interest only deal. Interest only mortgages involve paying the mortgage interest on the loan each month, usually from the rent collected. The capital debt – the full amount of the mortgage – is then paid at the end of the agreed mortgage term, either through other investments or the sale of the property. We also work with specialist lenders in to provide customers with a repayment mortgage, if you should require one.

The monthly mortgage interest payments on Buy To Let Mortgages depends on a range of factors, including the size of your mortgage loan, property value, the rental value of your property and your financial situation. Another factor is the type of loan you take out, whether that’s a fixed rate mortgage or a variable rate mortgage. How much you are able to lend is highly dependent on the rental income you aim to achieve, as this will become the main source of your monthly payments back to your lender.


Fixed Rate Mortgages

A fixed rate mortgage deal will usually last between two and five years. If you select a fixed rate mortgage, your monthly mortgage interest payments will stay the same for the full term of the fixed rate. This will give you the security of knowing exactly how much you will have to pay on your mortgage repayment each month, and you can pass this on to your tenants by guaranteeing their rent won’t rise.

Fixed rate buy to let mortgages
Variable rate buy to let mortgages

Variable Rate Mortgages

The mortgage interest rate you pay fluctuates from month to month. Namely, if the interest rate decreases, so too does the amount of interest you pay that month. However, if interest rates rise, it means you’ll end up paying a higher interest rate.

There are three main types of variable rate mortgages, and these include tracker mortgages, discount mortgages and capped rate mortgages. Here at Avail Mortgages, our Buy To Let Mortgage advisers can talk you through these options, and help you find the Buy To Let Mortgage deal for you.


Found a great property and in need of a Buy To Let Mortgage in Leeds or the surrounding areas including Huddersfield, Bradford, York or Harrogate? Our mortgage brokers can provide you with mortgage advice, a supportive service and a variety of mortgage deals and Buy To Let Mortgage rates. Please contact us today to find out more or start your mortgage search online here.


How Much Deposit Do I Need For A Buy To Let Mortgage?

Most mortgage lenders will require a higher deposit as compared to other types of mortgage loans. The mortgage deposit for Buy To Let Mortgages is typically a 25% minimum deposit of the house’s, flat’s or property value, but in some cases, the mortgage deposit may be as large as 40%.

The reason mortgage lenders need a larger mortgage deposit for this type of mortgage is because it protects the mortgage lender in cases of payment defaults, which may happen if tenants refuse to pay their rent, or there are issues with collecting rent.

Other considerations for these mortgages include letting agent fees, landlord insurance, income protection insurance and maintenance costs, as well as Income Tax, Stamp Duty Tax and Capital Gains Tax, should you decide to sell your property.

Buy to let mortgage deposit

Looking For a Buy to Let Mortgage? Contact Us Today!

Planning to take the plunge and purchase a Buy-to-Let property? Avail Mortgages are experts are getting to know our customers and their personal circumstances in assisting us to locate a suitable mortgage solution. We are experienced in dealing with finding options for first-time landlords from our extensive range of mortgage provider connections.

Buy To Let Mortgages can help get you started in the property industry, or help expand your property portfolio. Our mortgage brokers provide help for those seeking Buy To Let mortgage services across Leeds and the surrounding areas including York, Bradford, Harrogate, Sheffield and Huddersfield – ensuring their mortgage deal is fair and beneficial. From the lending criteria, mortgage rates and our mortgage calculator through to the mortgage application and mortgage payments, we make the mortgage process a breeze. Therefore, if you’re looking a suitable landlord mortgage and the options of Buy To Let Mortgage rates around, backed by a team of professionals, then please contact us today.