Mellow FinancialBuy to let mortgages.
Whether it's your first rental or your tenth, we help you understand the options and find the right lender for your investment.
Build property wealth
Lots of questions. We'll help you answer them.
Buy to let has changed the face of property ownership over the last 25 years. Before you start there's plenty to think about: where to begin, the risks and rewards, and what to look out for. Where circumstances are complex, specialist tax advice is often needed too.
We keep pace with daily changes in rates, schemes and lender criteria, so our advice is accurate and relevant to you. We cut through the paperwork and jargon, and guide you through every step until completion and beyond.
What we can access
Options for landlords.
- Mortgages up to 85% loan to value
- Generous maximum loan calculations
- Lenders who use market rent rather than actual rent
- Specialist lenders for higher rate taxpayers
- Up to 4 applicants
- No maximum age
The Financial Conduct Authority does not regulate some forms of buy to let mortgage. Your property may be repossessed if you do not keep up repayments on your mortgage.
Questions
Frequently asked.
What is a buy to let mortgage?
A mortgage for buying a property to rent out. Unlike a residential mortgage, the lender looks mainly at the rent the property can earn.
How much deposit do I need?
Most lenders want at least 25% of the property's value. A larger deposit, say 30 to 40%, can get you better rates.
Can I get a buy to let mortgage as a first time buyer?
Yes, though it's harder. Many lenders prefer you to own your own home already, but some specialist lenders will consider first time buyers, usually with a larger deposit.
How is affordability worked out?
Lenders usually need the rent to cover 125 to 145% of the mortgage payment. Some also look at your personal income, especially if the rent falls short.
Are buy to let rates higher than residential rates?
Generally yes, as lenders see them as higher risk. The right deal can still work well, particularly if the rent comfortably covers the mortgage.