Buy to let mortgages are mortgages for property owners who rent out the property instead of living in it themselves. If you are looking to invest in property, this is a great path to go down; the long-term results of property investment consistently show good returns.

This type of mortgage is more expensive, though – money lenders will typically look for higher deposits to cover the associated risks. Specialist advice from Hawke Financial Services Llp will help you to find the right BTL package and make the most of your finances.

Most buy to let mortgages are interest-only, meaning your monthly repayments go towards the accrued interest on the loan. This repayment should be reasonably covered by the rent payments you receive from tenants.

The capital debt on the property is then paid at the end of the term agreed with the lender. With a successful investment, this lump sum can be covered by the proceeds from selling the property.

Interest-only mortgages are not the only option, though, with repayment BTL mortgages becoming more popular. Hawke Financial Services Llp will explore your options with you and help you choose the ideal product to see a satisfying return on investment.

Mortgage lenders will usually assess your eligibility based on your income and the rental yield of the property. Hawke Financial Services Llp will walk you through all the criteria. Here are some of the general but not mandatory requirements:

• Be of a minimum age, usually 25+
• Have a minimum income of at least £25,000
• Pass a credit check

As with all mortgages, your circumstances and the context around the property itself will play a role in the buy to let mortgage rates you can expect. The process is somewhat different for expats and foreign nationals, but we can walk you through it if that’s the case in your situation.

We do the hard work for you by brokering with potential lenders and advising you on the best course of action. You can find out more about us here.