Use our Buy to Let calculator to work out the rental income that may be needed from your proposed Buy to Let property.
What do I need to know?
The calculator provides a Loan to Value percentage, which is the ratio of your mortgage, expressed as a percentage of the value of the property.
The calculator suggests a higher and lower figure for the rental income that a lender may require to support a given mortgage. The higher figure assumes a mortgage interest rate of 5.09% and the lower figure a rate of 4.49%. Both calculations are based on the lender requiring 125% of the monthly mortgage interest payment as a rental income. Please note that the exact criteria may vary from lender to lender.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Your initial mortgage appointment is without obligation. We normally charge a fee for our services; however, it is payable only on the submission of your mortgage application. The fee will depend on your circumstances but our standard fee is £549. Complex cases usually attract a higher fee. We will discuss and agree the fee with you prior to submitting any mortgage application.