When purchasing a buy to let property it is important to understand the amount of deposit you will need. Our simple to use, buy to let deposit calculator will give you a guide on the minimum deposit required.
Our buy to let deposit calculator is based on most lenders requiring a 25% deposit for buy to let mortgages.
For example if you buying a house for £100,000, you would need a minimum of £25,000 deposit for the property.
There are some lenders who will offer products with a lower deposit occasionally as well.
If you are looking to purchase a buy to let property or turn your current home in to a buy to let, our specialist advisors will be able to discuss this with you further.
The affordability for buy to let mortgage is usually based on the rental income that the property would receive. Our mortgage advisors will check that the rental income for the property is high enough for your mortgage as well. If you are unsure on the rental income for the property, it is worthwhile contacting a local ARLA (Association of residential letting agents) registered letting agent for an estimate. You can find one local to the property through a google search.
If you already own the property you can click here to look at your current loan to value on the property.
For student houses, holiday lets, houses of multiple occupancy, large portfolios and second homes the criteria varies between lenders. Our specialist mortgage advisors, will be able to answer any queries that you have along the way.