Historically Buy to Let properties were financed with commercial loans, with comparatively high rates and fees and more restricted loan to values (LTVs). However in the mid 1990’s mortgage lenders began offering bespoke BTL mortgage products, with more competitive rates and fees and offering LTVs up to 85%.

While still tending to be more expensive and with higher fees than residential mortgages the additional cost is now typically very small and on some occasions they can even be cheaper.

The lending decision is usually made on the basis of the actual or expected rental income and the LTV, normally with a maximum of 85%, rather than on income.

You need to be particularly aware of set up fees of BTL mortgages, as high percentage arrangement fees (e.g. 2.5% of the loan balance) are common and incentives such as free valuations and free legals, are less common for BTL mortgages.

Seeking advice

With the large number of BTL mortgages available and the wide variety of different criteria requirements good advice is critical in order to obtain the most suitable mortgage.

At Igloo.co.uk we have the expert knowledge and analysis tools to identify the best mortgage taking account of the fees, the LTV and rental requirements including any special requirements, such as portfolio funding or income enhanced lending.

Like the rest of our services we don’t charge you a penny for our expert advice.  Not only that, but Igloo.co.uk is a whole of the market broker meaning that we can access all the top mainstream and specialist BTL lenders to find the best deal to meet your needs. 

Whether you have one BTL or a portfolio just contact us today and we can do a full review of your BTL funding. contact us for advice on Buy to Let mortgages.

--------------------------------------------------------------------------------------

Buy to Let products are not regulated by the Financial Services Authority.

YOUR BUY TO LET PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK

IMPORTANT - Please Download & Print Out Our Initial Disclosure Document (IDD)

Registered Office: 4 Copthorne Road, Rickmansworth, Herts, WD3 4AE, England. Tel: 0800 023 1020
Company Registration Number: 5183369
Email: enquiries@igloo.co.uk
Principal: Richard Tanner

Igloo.co.uk Ltd is authorised and regulated by the Financial Services Authority and is entered on the FSA register under FSA reference 464182