Expert Advice on Buy to Let Mortgages & Investments

Buy to let mortgages are not regulated by the Financial Conduct Authority.

Your home may be repossessed if you do not keep up repayments on your mortgage.

There are very attractive yields to be had when investing in property via a buy to let mortgage, but investing in a property should not be seen as an easy way to make money. This sector of the market is becoming increasingly more complex, but with the right advice, knowledge and attitude from your buy to let mortgage advisor it can be very profitable.

Whether you are looking to buy your first rental property or want to expand an existing portfolio, getting the right mortgage products and financial advice can mean the difference between successfully expanding your portfolio and maximising your profit, or experiencing void periods and being unable to offset the management and maintenance costs of the property.

With this sector being the fastest growing part of the UK market, it’s essential you choose a mortgage broker who is not tied to any particular bank or building society, but can access all available products in order find exactly the right mortgage product for your own unique circumstances. At Derngate Wealth, we have access to products that are unavailable to individuals.

As well as buy to let mortgages, we can help you with protection insurance and advise you on how to successfully and profitably manage your rental property.

If you are already a landlord, or would like to find out if property investment is for you, contact Derngate Wealth in Northampton today.

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If you're looking to take out a mortgage, contact our experts today. We have access to the whole of the market, which means we can help you find exclusive deals to meet your requirements.

What You Need to Know About Buy to Let Mortgages

When applying for a buy to let mortgage it’s important that you understand the following:

  • Interest rates tend to be higher than for a residential mortgage.
  • Need landlord insurance? Give us a call.
  • You will typically need a larger deposit; usually 20% to 25% of the property’s value.
  • You will be offered a mortgage based on the rent potential of your property, i.e. how much rent you will earn from the property.
  • Additional costs to consider include maintenance costs, letting agent's fees, management service fees, ground rent, service charges, insurance, furnishings, gas and electrical appliances and decorating costs in between tenancies.

At Derngate Wealth, our buy to let mortgage brokers can help you to decide what your key aim of becoming a landlord is. Is it to create another income stream? Or perhaps you are looking to make a profit through increased equity as it increases in value over time. This, along with other key factors, will determine the type of property you buy, and in which location. That’s why it’s important you talk to letting agents and find out what is in demand, and the rental value of the different types of properties available.

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Buy to Let Mortgage Advice

Whole of Market Mortgage Brokers

As specialist buy to let mortgage brokers, we understand there's a lot to consider when becoming a landlord. That's why we can help take the stress away, by putting together all the information you need to find the best possible mortgage out there. We pride ourselves on our personal and friendly service, and we can advise you on full-market deals you won't be able to find yourself. Our outstanding customer care and expert knowledge are what makes Derngate Wealth Management one of the leading financial advisors in the UK.

Frequently Asked Questions

What is BTL?

Buy to let (BTL) mortgages are designed for landlords who want to purchase a property as an investment, rather than as a place to live. The rules are similar to those around regular mortgages as they work by providing you with a loan for a set period of time. However, because you won’t be living in the property, there are some key differences including higher interest rates and larger deposits. There are also additional costs you will need to consider ranging from maintenance fees to insurance.

How Many Buy to Let Mortgages Can I Have?

This varies from lender to lender and largely depends on what they’re willing to lend you. In some cases, a lender will only allow you to take out a couple of buy to let mortgages and others will allow more. However, it is possible to hold multiple BTL mortgages with the same or different lenders as long as you meet their requirements.

How Much Can I Borrow?

The amount you can borrow depends on your deposit, personal circumstances and how much rent you can expect for your property. Lenders typically require you to earn 25% to 30% more than your mortgage payment.