What is a Buy to Let Mortgage?
A Buy to Let (BTL) mortgage is for applicants who are either looking to a rental portfolio or build up their existing one. A BTL mortgage is designed for landlords or prospective landlords who are looking to rent out their property to tenants.
How much deposit will I need for my BTL Mortgage?
For a BTL mortgage, you will generally need a 25% deposit a deposit at this rate will give you a loan to value (LTV) of 75% thus opening up most lenders to you subject to income. If you would like to put down a smaller deposit you will be less likely to obtain a mortgage or be saddled with subprime lenders who generally have much higher interest rates. In terms of deposit being put down it is like residential mortgages the larger the deposit that you can afford, the better the interest rate will be applicable to you.