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Many people use buy-to-let property as a long term investment, or alternative source of pension provision. In simple terms, the expectation is that property rental income will cover the buy-to-let mortgage repayments & property maintenance costs, whilst rising property prices will provide capital growth over time.
Buy-to-let mortgages provide individuals with the leverage to invest in property in a manner that was previously only possible for institutions & property professionals. Most people will be familiar with the principle of owning a mortgaged home & are therefore comfortable using the same strategy for investment.
Buy To Let Mortgage Deals
During the turmoil of the credit crunch many existing & prospective buy-to-let landlords found difficulty in obtaining buy-to-let mortgage or re-mortgage deals. A number of the most prolific lenders severely restricted the availability of buy-to-let mortgage deals & some stopped lending altogether.
As we emerge from recession, the mortgage institutions have begun to rebuild their balance sheets & have greater liquidity. There are now many more buy-to-let mortgage deals available than 12 months ago. Some new mortgage lenders have appeared & some of the traditional lenders are re-entering the market.
The best buy-to-let deals available today are generally more restrictive than before. Loans are typically restricted to a maximum of 60-80% of the property value (LTV) & lenders will often require rental income to be 125% of the mortgage interest repayment.
Buy To Let Mortgage Lenders
These are some of the lenders currently offering buy-to-let mortgages, or buy-to-let re-mortgages. In some circumstances, a buy-to-let mortgage broker may be able to offer access to mortgage deals that are not publicised, or help obtain a buy-to-let mortgage or re-mortgage deal for people unable to obtain a good deal directly with the lenders, so always shop around!
| Lloyds TSB Bank | Link to Buy To Let Page |
| Halifax | Link to Buy To Let Page |
| Loughborough Building Society | Link to Buy To Let Page |
| Coventry Building Society | Link to Buy To Let Page |
| The Mortgage Works (For Brokers Use Only) | Link to Buy To Let Page |
| Principality Building Society | Link to Buy To Let Page |
| NatWest | Link to Buy To Let Page |
| Nottingham Building Society | Link to Buy To Let Page |
| Cheltenham & Gloucester | Link to Buy To Let Page |
| Leeds Building Society | Link to Buy To Let Page |
| Yorkshire Bank | Link to Buy To Let Page |
| Woolwich | Link to Buy To Let Page |
| Northern Rock | Link to Buy To Let Page |
Disclaimer This table is produced for information purposes only. Buy-to-let-mortgages.com is not affiliated with any of the businesses listed in this table & does not endorse their products or offer financial advice. Visitors are reminded that buy-to-let mortgages are not covered by the Financial Services Authority. Therefore it is important that you conduct your own research into the suitability of any financial product or service referred to on this site & seek appropriate financial and/or legal advice from a suitably qualified professional.
