Buy to let mortgage brokers

What is a buy to let mortgage?

Buy to let mortgages are designed to help you buy a property to rent out to other people, rather than live in yourself. The amount you can borrow depends on the deposit you can put down and the amount of rental income you expect to earn from tenants.

How do buy to let mortgages work?

Are buy to let mortgages interest only?

Yes, most buy to let mortgages are interest-only, meaning monthly payments only cover interest. The loan balance is paid at the end of the term, typically through the sale of the property. However, it is possible to get a BTL mortgage on a repayment basis.

How do lenders test affordability?

Lenders use your expected rental income to calculate how much you can afford to pay in monthly interest payments. They ask for your rental income to cover more than 125% of the monthly interest payments but each lender has their own requirements.

Use our buy to let mortgage calculator for an idea of how much you could afford to borrow based on rental income. Our expert brokers can help you estimate how much rental income you can expect to make from a property.

How much deposit do I need for a buy to let mortgage?

Am I eligible for a BTL mortgage?

You need to meet certain criteria to be eligible for a buy to let mortgage. Although exact details vary between lenders, some key criteria are as follows.

• Age: You will typically need to be between 25 and 75 years old, although some lenders offer mortgages outside this range.
• Location of residence: Lenders typically require that you live in the UK. There are some that accept applications from expatriates but these underwriters may impose stricter criteria in other areas.
• Credit history: Having a poor credit history can make it difficult to get a BTL mortgage, especially one with competitive rates. However, lenders will consider the age, severity and amount of any credit problems and may overlook less severe issues.
• Property ownership: Some lenders require you already own your own home, either outright or with an outstanding mortgage.
• Personal income: Some lenders may ask you to prove you earn more than £25,000 per year, separate from your rental earnings.

Whatever your circumstances, our buy to let mortgage brokers can let you understand your eligibility and help you find the best financing for your needs.

How to get a buy to let mortgage

BTL mortgages can be complex, especially if you're a new landlord. While it's possible to arrange one by yourself, there are significant advantages to enlisting the help of our specialist brokers.

We have deep experience in the market, so we can help you understand how these mortgages work and what you're signing up for. Some lenders won't accept applications directly from applicants, which means working with us can give you access to a wider range of lenders and deals.

It can be challenging to find all the information you need to get the best deal online. We can access all the relevant information because we have long-standing relationships with each lender, and we can use this knowledge to find the best options for your particular circumstances.

How our BTL mortgage process works

1. Understanding your needs

You tell us about your situation and goals in detail, which helps us find the best lenders and deals for you.

2. Gathering documentation

We tell you what documents you need to support your buy to let mortgage application and help you prepare them.

3. Making your application

When you decide on the property you want to invest in, we use our vast network of lenders to find the best mortgage for you. We manage the entire application process for you, making it as simple and stress-free as possible.

4. Assisting with lender checks

The lender carries out a valuation and their underwriter reviews your application to confirm you match their criteria. We provide any additional information they might need, ensuring this stage proceeds as smoothly as possible

5. Receiving your offer

The lender makes you a formal BTL mortgage offer when they're happy with all the checks. We help you complete the legal details and exchange contracts with the seller, taking the hassle out of the paperwork.
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Why choose Alexander Hall's buy to let mortgage brokers?

With more than three decades' experience providing best-in-class mortgage advice, our expert BTL brokers have the experience to find the right deal for you. Here are some of the reasons you can count on us.

• Impartial advice: Our brokers provide the insights and guidance you need to make informed decisions about funding your investment.
• Extensive network: We give you access to a wide range of options, with more than 100 lenders in our network, including buy to let mortgage specialist providers.
• Streamlined process: We take the heavy lifting out of the entire mortgage process, leaving you free to focus on what matters most to you.
• Exceptional service: Thousands of happy customers have given us 'Excellent' ratings on Trustpilot and we promise to provide you with the same outstanding levels of service.
• Award-winning brokers: We've won a wide range of awards over the years, including the Best Broker for Customer Service in the Legal & General 2024 Mortgage Club Awards most recently.