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buy to let mortgage
billozz
Posts: 178 Forumite
can someone explain how a buy to let mortgage works please, i am interested in trying one i own a mortgaged house with about £150,000 equity and wondered if i might be able to get a buy to let mortgage by using some of that equity, but im not sure how the process would go so some explanation would be helpful.
thanks
thanks
Smile and be happy, things can usually get worse!
1
Comments
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The basic principle is that a BTL is normally an interest only mortgage.
Lenders will have their own criteria. Here's Santander's as an example. Though broadly will be similar.
https://www.santanderforintermediaries.co.uk/products-and-criteria/buy-to-let/
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Well your starting a new business where you buy a property or use your existing home and rent it out for a profit.
Very simple really once you know what the hell your doing.
Might need to read up a little0
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