Buy-to-let Mortgages

Buy-to-Let Mortgages

Choosing the right mortgage when investing in Buy-To-Let properties is essential. We are happy to help if you are unsure of the difference between this type of mortgage and the more common ‘residential’ variety.

SME Funding has access to the whole market and is experienced in finding the most suitable mortgage product for less conventional situations. As an independent broker with over 30 years business finance experience, we are perfectly placed to advise you and find a Buy-to-Let mortgage that matches your needs. With the recent changes to ‘Buy-to-Let’ and ‘Let-to-Buy’ it’s extremely important to get the right advice before you commit.

Buy-to-Let Mortgages – the Criteria

Lenders typically assess an applicant on the following criteria:

  • Age – Minimum age is usually 21 or 25, (very occasionally 18), Most lenders will lend up to age 75 but some up to age 85. Some have no maximum age at all under the right circumstances.
  • Borrower status – You can be a first-time buyer, first time landlord, experienced landlord or professional landlord – it varies by lender.
  • Location of residence – Most lenders require borrowers to be UK resident. Some will accept non-resident and expat applicants although they may need a larger deposit or charge higher rates.
  • Credit history – A poor credit history can make it more difficult to obtain a buy-to-let mortgage.