Buy to Let Mortgages


to Lynton Mortgages,

where our dedicated team of mortgage advisers simplifies the process of finding the perfect lender for you. Whether you have excellent credit or have faced challenges in the past, we’re here to assist, including with Bad Credit Mortgages. With a focus on transparency and saving you time, we provide honest advice to ensure the best deal without hidden fees. Your financial well-being is our priority. Contact us for personalized mortgage solutions.

What is a Buy to Let mortgage and how do they work?

A Buy to Let mortgage is essentially a mortgage taken out when you’re specifically looking at buying a house for investment purposes. Unlike a residential mortgage, where the amount you can borrow is solely based on your income, with Buy to Let mortgages, lenders often consider the potential rental income of the property. It’s less focused on your personal income and more on the property’s rental potential.

At Lynton Mortgages, our approach is straightforward and honest. We understand the nuances of Buy to Let mortgages and can provide tailored advice to suit your investment goals. Contact us today to explore your options with no hidden fees.

How is a personal Buy to Let different to a limited company Buy to Let?

In terms of the end goals, they remain one and the same. The distinction lies in whether you’re purchasing the property in your own name. Ultimately, it all boils down to tax implications. I’m not a tax advisor – for expert advice on that matter, it’s best to consult with a specialist.

Generally speaking, though, buying through a limited company can result in lower tax payments compared to personal ownership. However, when it comes to mortgage rates, because they are more specialized, you may find yourself paying slightly higher rates for a limited company Buy to Let.

At Lynton Mortgages, we prioritize transparency and providing honest advice tailored to your specific needs. Contact us today for unbiased guidance on navigating the complexities of property ownership and taxation.

Can anyone get a Buy to Let mortgage? Even a First Time Buyer?

Yes, almost anyone can secure a Buy to Let mortgage. While there are more limited options for First Time Buyers, it’s still entirely feasible.

For First Time Buyers, lenders typically assess affordability alongside rental income. They want to ensure that you can afford the property in your own name and that the rental income is sufficient to cover the mortgage. This precautionary measure is in place in case you ever need to live in the property for any reason.

At Lynton Mortgages, we provide straightforward and honest advice to help you navigate the mortgage process with ease. Contact us today for personalized guidance on securing the right mortgage for your needs, without any hidden fees.

How much can you borrow on a Buy to Let mortgage and what deposit do you need?

The amount you can borrow hinges on the rental income generated by the property. Each lender employs different calculations, including a specific ‘stress test’ to ensure that you could cover the monthly mortgage payment if interest rates rise or if the property is vacant.

Having a 25% deposit expands your options with many lenders. While there are some niche lenders that may accept a 20% or 15% deposit, be aware that the interest rates tend to be higher.

At Lynton Mortgages, our focus is on providing honest and practical advice to help you navigate the complexities of the mortgage market. Contact us today for personalized guidance on securing the right mortgage deal for your investment, without any hidden fees.

Speak to an expert

Our team of seasoned advisers at Lynton Mortgages is here to assist you with both purchasing and remortgaging your home. We prioritize protecting your property and lifestyle while also saving you valuable time and effort. Our goal is to ensure you secure a competitive deal tailored specifically to your needs. With a commitment to honesty and transparency, we focus on providing you with the best possible outcome without any hidden fees. Contact us today for personalized guidance on your mortgage journey.

How much does a Buy to Let property cost?

It’s challenging to provide an exact figure upfront. At Lynton Mortgages, we assess each case and property individually to ensure accuracy. Generally, Buy to Let product fees tend to be slightly higher than residential, ranging from around £999 to 1% of the mortgage amount, especially for limited company deals.

Additionally, you’ll need to factor in stamp duty, which is higher for second homes and investment properties, typically an extra 3% on top of the residential tax. There are also broker fees to consider, and you may opt for a home buyer’s report instead of the standard valuation.

To determine the precise costs for your situation, we’ll need to review the details of the property and whether you’re purchasing as an individual or a company. Contact us at Lynton Mortgages for personalized advice tailored to your needs.

Is it illegal to rent out a house without a Buy to Let mortgage, or to live in your own Buy to Let property?

If you purchase a property with the intention of renting it out and later decide to live in it yourself, it’s important to inform the lender. They may require you to switch to a residential mortgage.

On the other hand, if you already own a residential property and choose to rent it out, lenders tend to be more flexible. However, it’s crucial to disclose your plans upfront. You may be able to obtain Consent to Let, allowing you to rent out the property for the remainder of the fixed term. Once the fixed term ends, if you continue to rent it out, you’ll likely need to convert it into a Buy to Let mortgage.

At Lynton Mortgages, we prioritize transparency and honesty, ensuring you’re fully informed about your options. Contact us today for personalized advice tailored to your circumstances.

Should I choose interest-only or repayment on a Buy to Let mortgage?

Both interest-only and repayment mortgages have their advantages and drawbacks, and choosing the right option depends on your specific goals and long-term plans. At Lynton Mortgages, we prioritize understanding your unique situation to provide tailored advice.

If you’re seeking a cash flow property to generate additional income, an interest-only mortgage might be the best fit. It offers flexibility, allowing you to make overpayments when feasible. This flexibility is especially valuable for investors who prefer to assess their profits annually before deciding on mortgage overpayments.

On the other hand, opting for a repayment mortgage means committing to regular monthly payments, regardless of your property’s profitability. For investors focused on cash flow, interest-only mortgages typically offer a higher return. Additionally, in situations where you need to cover the mortgage payments yourself due to vacancy or tenant non-payment, interest-only payments are usually more manageable than repayment options.

At Lynton Mortgages, our honest and straightforward approach ensures you receive personalized guidance to make informed decisions. Contact us today to discuss your mortgage options and achieve your financial goals.

How many Buy to Let properties can I own?

The maximum number of properties you can own before lenders perceive you as a higher risk varies depending on the lender. Typically, once you own four properties or more, some lenders may become more cautious and limit their lending options. In such cases, you may need to consider lenders specializing in portfolio landlord products.

When expanding your property portfolio for long-term goals, relying solely on your bank may limit your options. Most banks typically cap lending at four properties, leaving you with few alternatives.

At Lynton Mortgages, we understand the importance of a comprehensive strategy for property investment. By discussing your investment goals with us, we can tailor a plan to your needs. We’ll explore lenders willing to finance various property types and locations, especially if you’re targeting properties with strong cash flow potential.


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