Buy-to-let mortgages

Buy to let mortgages are no longer as freely available as used to be the case. Fewer lenders are offering buy-to-let mortgages and the lending and affordability criteria they require have tightened considerably. Typically a deposit of at least 25% will be required and the interest rates charged will be higher than that for an equivalent residential mortgage. There are many different types of buy-to-let mortgages: fixed rate mortgages, base rate tracker mortgages and discount mortgages. You need to be aware that being a landlord is a serious and time consuming business, so you should always take advice before entering this market.