Buy to Let Mortgages
Buy to Let Mortgage Bristol
Normally what you can borrow is governed by the amount of rent of the property will produce rather than the income of the perspective Landlord. All lenders will apply a margin calculation to assess the maximum that you can borrow according to the value of the property and the rent that will produce. This margin calculation or interest coverage ratio can vary depending on whether you are taking a short or long-term fixed rate and whether you are a higher rate taxpayer.
Contact us today or book an appointment online
Buy to Let Mortgage Advice
Another factor to consider is your income. Although they don’t tend to take your income into account when assessing how much you can borrow, many lenders do want applicants to have some minimum earned income e.g. £25,000.