Buy to Let Mortgages
Helping you expand your property portfolio
At RB Financial, we help Colchester property investors and landlords secure buy-to-let mortgages with our expert mortgage advice. Whether you’re buying your first investment property or looking to expand your existing portfolio, securing a buy-to-let mortgage can help you increase your investments and access the rental market, which continues to remain strong.
How do buy-to-let mortgages differ from residential mortgages?
- Interest rates are usually higher on buy-to-let mortgages compared to residential mortgages
- Whereas for residential mortgages, your deposit could be as little as 5% of the property value, you will have to pay at least 25% for a buy to let mortgage.
- Unlike a standard mortgage, where the amount you can borrow is linked to your income, with a buy to let mortgage, the lender will instead look at how much rent you could make from the property on which the mortgage is secured.
- We can help you arrange a bespoke buy-to-let solution that’s tailored to you.
Benefits of a Buy-to-Let Mortgage
There are many advantages to securing a buy-to-let mortgage, and it can be a smart option when purchasing investment properties. Many landlords in Colchester use this type of mortgage to purchase properties to rent, as these are usually interest-only, which helps keep monthly costs low and improves cash flow. At RB Financial, we’ve helped landlords and property investors find buy-to-let mortgage deals that are not often found on the open market.
These payments of interest do not pay off any capital of the sum originally borrowed. This means that you’ll need to repay the full mortgage amount in one lump sum at the end of the mortgage or when you sell the property.
Your property may be repossessed if you do not keep up repayments on your mortgage
Why Choose RB Financial
We’ve been helping Colchester landlords and property investors since 2016, with expert mortgage and financial advice. We believe in being fully transparent and strive to keep things simple with zero jargon to ensure your buy-to-let mortgage is as seamless and stress-free.
Mortgage Services
Frequently Asked Questions
Can a first-time buyer get a buy-to-let mortgage
First-time buyers can certainly apply for a buy-to-let mortgage; however, it can be more challenging than it would be for someone with property purchasing experience. As lenders find BTL mortgages riskier than residential mortgages, there tend to be stricter requirements. If you are a first-time buyer and looking to source a buy-to-let mortgage, speak to our team and we’ll discuss your options in more detail.
Do buy-to-let mortgages depend on income?
Buy-to-let mortgages largely depend on the rental income that would be expected to come from the property. It is important to note that some lenders may take other income you have into account when reviewing your BTL mortgage application.
Can I get a buy-to-let mortgage for an off-plan property?
You certainly can secure a buy-to-let mortgage for an off-plan property; however, these can be more challenging due to the nature of the development, such as the risk of delays from unfinished properties.