Rental income
The expected rental income from the property can play an important role in determining how much you may be able to borrow.
BUY TO LET MORTGAGES IN NEWCASTLE
Build your property investment plans around the right mortgage.
Whether you're buying your first rental property or building a larger portfolio, we can help you understand the Buy to Let mortgage options available to you.
From rental income and deposit requirements to portfolio lending and your longer-term plans, we'll look at the bigger picture and help you find a mortgage that fits your circumstances.
BUY TO LET ENQUIRY
Start with your plans.
Tell us a little about the property you're considering and we'll help you understand what may be possible.
UNDERSTANDING BUY TO LET
A mortgage designed around an investment property.
A Buy to Let mortgage is designed for properties that are being purchased or remortgaged with the intention of letting them to tenants rather than using them as your main home.
Buy to Let lending works differently from a standard residential mortgage. The expected rental income can be an important part of the lender's assessment, alongside your own financial circumstances, the property and the overall strength of the application.
There can also be different considerations depending on whether you're buying your first rental property, adding another property to an existing portfolio or looking to release equity from a property you already own.
That's why it's worth understanding the lending criteria before you commit to a property. The right mortgage structure can make a significant difference to the viability of your investment.
A MORTGAGE IS ONLY PART OF THE PICTURE
Think beyond the initial purchase.
We can help you consider the mortgage alongside your deposit, rental income, costs and longer-term property plans.
HOW BUY TO LET WORKS
There is more to a Buy to Let mortgage than the deposit.
Lenders look at several factors when deciding whether a property and application are suitable for Buy to Let lending.
Your deposit
Buy to Let mortgages generally require a larger deposit than many residential mortgages, although requirements vary between lenders.
The property
The type, location and condition of the property can all affect whether it meets a lender's criteria.
Your circumstances
Your income, existing mortgages, credit history and wider financial position can also influence the options available.
BORROWING POTENTIAL
How much could you borrow for a Buy to Let?
There isn't one simple income multiple that applies to every Buy to Let mortgage. The amount you can borrow may depend heavily on the expected rental income from the property as well as the lender's individual criteria.
This means a property that looks affordable at first glance may not work for every lender. Conversely, a different lender may be able to structure the borrowing more effectively.
We'll look at the figures before you commit to a property, helping you understand what may be achievable and what the likely mortgage costs could look like.
YOUR INVESTMENT PLANS
Different properties can mean different mortgage considerations.
Whether you're taking your first step into property investment or already have a portfolio, the mortgage options available can depend on what you're trying to achieve.
First Buy to Let
Buying your first rental property can raise questions around deposits, rental calculations, lender criteria and how the mortgage fits alongside your own home.
Additional properties
If you already own property, there may be different considerations around existing borrowing, rental income and the number of properties you own.
Portfolio landlords
Building a larger portfolio can introduce more complex lending requirements, particularly where several mortgages and properties are involved.
Remortgaging
Remortgaging an existing rental property could give you the opportunity to review your rate, release capital or restructure your borrowing.
YOUR FIRST RENTAL PROPERTY
Planning to become a landlord?
Your first Buy to Let purchase can feel very different from buying your own home. The property needs to make sense as an investment as well as being acceptable to a mortgage lender.
Before you start viewing properties, it can be useful to understand your likely borrowing position and the type of rental income a lender may require.
Getting this groundwork in place can give you a clearer idea of your budget and help you move more confidently when you find the right property.
01
Understand your budget
Know what deposit and borrowing level may be realistic before you start making offers.
02
Check the rental figures
Consider whether the expected rent supports the mortgage and wider costs of the property.
03
Choose the right mortgage
Different lenders have different approaches to Buy to Let, so comparing the market can matter.
GROWING YOUR PORTFOLIO
More properties can mean more to consider.
Once you own more than one rental property, the way you approach your borrowing can become increasingly important.
Existing mortgages, rental income, property values and the number of properties you own can all form part of a lender's assessment.
If you're looking to buy another property, release equity or reorganise existing borrowing, it can be useful to look at the portfolio as a whole rather than treating each mortgage as a completely separate decision.
01
Existing borrowing
Your current mortgages and commitments can influence the options available for your next purchase.
02
Rental income
Income from existing properties may form part of the overall assessment when you apply for further borrowing.
03
Longer-term plans
The right mortgage today may depend on whether you're planning to grow, consolidate or eventually sell properties.
BUY TO LET FAQS
Questions landlords often ask.
Buy to Let mortgages work differently from residential lending, so it's worth understanding the key points before you apply.
Buy to Let mortgages generally require a larger deposit than many residential mortgages. The amount required can vary between lenders and depend on the property, rental income and your circumstances.
Yes. Many Buy to Let applications are made by people who already own their home. Your existing mortgage, income, financial commitments and the proposed rental property will all be relevant to the application.
Rental income can be a significant factor in Buy to Let lending. Lenders use their own calculations and criteria, so the amount you may be able to borrow can vary depending on the lender and property.
Some lenders offer Buy to Let mortgages for properties purchased through limited companies. The criteria, rates and costs can differ from personal Buy to Let lending, so it's important to consider which structure is appropriate for your circumstances.
Yes. Remortgaging can be used to review your existing rate, potentially release capital or restructure your borrowing. Whether it makes sense will depend on your circumstances, the property and the costs involved.
Buy to Let lending has different criteria from residential mortgages, particularly around rental income, property types and portfolio lending. Speaking to an adviser can help you understand which lenders and mortgage options may fit your plans.
READY TO EXPLORE YOUR OPTIONS?
Let's look at what could work for your property plans.
Whether you're buying your first rental property, growing a portfolio or reviewing an existing Buy to Let mortgage, we'll help you understand the options available to you.
Start by telling us a little about your plans. We can then look at your circumstances, the property and the mortgage options that may be suitable.
01
Tell us about the property and your plans.
02
We'll discuss your circumstances and borrowing position.
03
We'll help you understand the mortgage options worth considering.
BUY TO LET ENQUIRY
Tell us about your plans.
Complete the form and we'll get back to you to discuss your requirements.