Buy to Let

Lenders typically allow you to borrow up to 75% of the property value, although some might offer higher loan-to-value ratios (LTV) with higher interest rates.

The minimum deposit is usually 25%, though some lenders offer options with a 20% or 15% deposit (often with higher interest rates).

Yes, most lenders will consider your expected rental income to offset the mortgage repayments and calculate affordability. Your personal income can also be used to boost affordability if necessary. This is called top-slicing.

Houses (including detached, semi-detached, and terraced): These are the most common buy-to-let properties as they tend to have a steady demand from renters. Flats (apartments): Many lenders allow financing for flats, although some might have limitations.

This varies, but lenders typically require the rent to cover the mortgage payment with an additional buffer (often 125% or 145%), depending on your income tax bracket.

You'll be responsible for repairs, maintenance, finding tenants, and ensuring adherence to tenancy agreements and regulations.

Interest rates for buy-to-let mortgages are generally slightly higher than standard residential mortgages and will vary depending on whether the property will be purchased in your personal name or via a limited company.

Some lenders charge application fees and valuation fees, however there are often fee-free alternatives, keeping costs to a minimum.

If the property is held in your personal name, you'll be liable for income tax on rental profits and potentially capital gains tax when selling the property. If the property is held in a limited company there may be different tax liabilities such as corporation tax.

Have a plan for managing potential rental arrears, including insurance options.