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As buying to let is increasingly popular these days, many mortgage providers are now offering
buy to let mortgages. If you are considering buying to let, you’ll want to consider the issues
unique to a buy to let situation, like getting agents, repairs, and the intricacies of a buy to let
mortgage, before you make any decisions.
With a buy to let mortgage, you pay a deposit on a house or flat and get a mortgage to fund the
difference. In a buy to let situation, your deposit will be about 15% to 20% of the cost of the property,
and the rent you charge should be about 130% of your mortgage payments. This should ensure you can cover
the cost of mortgage payments, interest payments, letting fees, insurance and other outgoings without
dipping into your own wallet. After all, a buy to let property is meant to be an investment!
To find out more information visit our Mortgages notebook page.