Buy-to-let mortgages. A clear view of your options.
Buying a property to rent out, or reviewing one you already let? Eleanora helps you understand the mortgage options and the steps involved.
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Read our reviewsYour property may be repossessed if you do not keep up repayments on your mortgage.
Most buy-to-let mortgages are not regulated by the Financial Conduct Authority.
Start with the property. Then look at the numbers.
We look at the rental property alongside your circumstances, so you know what needs checking before you apply.
Your deposit or equity
What you can put towards the property and where those funds will come from.
The rental income
The expected rent matters to the lender’s assessment of the borrowing.
The property itself
Its type, condition and intended use can affect which lenders will consider it.
Your wider circumstances
Your income, commitments and any other mortgaged properties.
Buying personally or through a company?
The ownership structure can affect your mortgage options. Talk it through with Eleanora and take separate advice from your accountant or tax adviser.
Clear advice. Someone keeping you updated.
“Very helpful and very attentive look after all the small details and proactively communicate!”
A few questions before you let.
How much deposit will I need?
Buy-to-let mortgages usually need a larger deposit than a mortgage for your own home. Eleanora can explain the requirements for your property and circumstances.
How does rental income affect borrowing?
Lenders assess the rent a property receives or is expected to receive when considering the loan. They also apply their own checks and criteria. Eleanora can explain how these apply to your plans.
Can I rent out my current home?
You need your lender’s agreement before letting a home with a residential mortgage. Depending on the circumstances, this could involve consent to let or a buy-to-let mortgage. Speak to us before making arrangements.
Can you review an existing buy-to-let mortgage?
Yes. We can review your current mortgage, explain the options available and check any relevant charges before you decide what to do next.
What does interest-only mean?
Your monthly payments cover the interest rather than reducing the amount borrowed. You still need to repay the original loan at the end of the term, so a suitable repayment plan matters.
Let’s talk through your property plans.
Speak to Eleanora by phone, video call or at our Rathfriland office.