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Buy to Let

Buy to Let

Buy to let or BTL mortgages are mortgages specifically for landlords who wish to buy a property to rent it out to a tenant. 

The rules around buy to let mortgages are similar to those around regular mortgages nowadays, but there are some key differences.  There are also special tax considerations that you should also be aware of before taking on a second or subsequent property to let to tenants and further, there are additional SDLT fees payable for second or subsequent owned properties such as buy to let mortgages. 

The general idea is that a buy to let landlord will purchase a property with a buy to let mortgage and get rent from a tenant that more than covers the mortgage payments that are due on the property. 

Many investors find that buy a buy to let property is an attractive option because you can potentially earn a profit in two ways:

 

a) Rental yield – what your tenant(s) pay in rent, minus any maintenance and running costs, like repairs and agent fees; and 

b) Capital growth – the profit you earn if you sell your property for more than you paid for it. 

With any investment, there is always a risk and you should carefully consider the risks before taking on a buy to let mortgage. Getting specialist advice from a mortgage broker in relation to the many buy to let products on the market is essential. 

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