Buy to Let Mortgage FAQs

Find answers to some of the most frequently asked

questions on BTL mortgages here.

Buy to let mortgages can be a tricky field to navigate, especially when you’ve never been involved in one before. For those new to the BTL market fear not! We’ve compiled a list with some of the most frequently asked questions surrounding these types of mortgages, as well as answers to them.


What Is a Buy to Let Mortgage?

As the name suggests, a buy to let mortgage helps borrowers buy a property in which they then can rent out. A buy to let (BTL for short) mortgage is therefore a type of mortgage used by landlords, helping them to purchase a property they will later rent out to tenants.


How Does a Buy to Let Mortgage Work?

It is common for buy to let mortgages to be provided to borrowers through an interest-only basis, meaning monthly payments for the mortgage will only comprise of the loan’s interest. For these types of scenarios, it is during the end of the mortgage term that the loan will then be paid off in full. If you’re interested in learning more about buy to let mortgages rates, please get in touch with our expert team. 

When applying for a buy to let mortgage, lenders will consider a variety of different factors before making a decision on an application, including the rental income the property can provide, the annual income of the applicant, whether they will be able to afford the payments on the mortgage if the property becomes unoccupied for a while, and more.


Are One Buy To Let Lenders or Brokers?

One Buy To Let are a buy to let mortgage broker. We hold a wealth of experience in the UK’s financial services market, having worked in it since 2001.

We are able to connect you to our trusted mortgage brokers and lenders experienced in the buy to let market. Simply fill in our enquiry form and we’ll be in touch about the next steps.


How Many Buy to Lets Can Someone Own?

The amount of buy to let mortgages you can have will depend on a variety of different factors, including the lender you go with. Some landlords will be interested in renting out numerous different properties, however, in order to do this will need multiple buy to let mortgages.

The amount of BTL mortgages you can take out will vary, depending on whether the lender is willing to agree to further lending. Whilst some lenders will only agree to one, or maybe two, BTL mortgages, others can set their limits higher than this.


What Are the Age Limits for Buy to Let Mortgages?

Amongst its list of criteria, buy to let mortgages will also usually come with age limits. Whilst this can vary between lenders, you can typically find this limit being anywhere around the ages of 70 to 75. It’s worth noting that this is the age limit for borrowers when the mortgage term ends.

It’s important to look into these age limits with lenders to check that you’re eligible for the mortgage term you’re applying for.


Can a Buy to Let Mortgage Affect Getting a Residential Mortgage?

A buy to let mortgage may affect future borrowing, i.e. when getting a residential mortgage. However, this will depend on the situation of your buy to let mortgage – for example, if the property you have a BTL on is not providing enough rental income to make up the monthly mortgage repayments, this can have an impact on how lenders view your affordability for future lending.


Can I Switch From a Residential to a Buy to Let Mortgage?

Yes, it’s quite common for homeowners to switch their residential mortgage to a BTL one. For those who are currently under a residential mortgage and want to switch this to a buy to let, you will have to get in touch with your lender and obtain their consent before doing so.

If your lender rejects your request to switch to a BTL mortgage, you may be able to remortgage with a new lender, however, this could incur penalties depending on the details of your mortgage. It’s worth getting in touch with your lender to explore the options available with them when considering switching from residential to a buy to let mortgage.


Still can’t find the answer you’re looking for? Get in touch with our expert team to discuss your options, and to help find the BTL mortgages most appropriate for you.

Buy to Let News

Not only do we regularly help people and businesses searching for a buy to let mortgage but our website regularly provides industry updates on the sector.

Naturally we want to help our customers speak to buy to let lenders that can help – but we also want our customers to use us for trusted financial services news and updates so they are kept well informed.

Check back regularly or follow us on Twitter and we will update you on all that is going on in the UK buy to let market.

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