Buy To Let Mortgages

Tefal_2

Are emmigrating and have decided to rent out our property - any recommendations for buy to let mortgages??

This is my first thread - would greatly appreciate help!!

Tefal

MarkyMarkD

Welcome and well done for taking the plunge and posting!

I would consider asking your existing lender for permission to let. Some will let you without any hassle at all - just charging a one-off fee - whilst others will make you switch to a BTL product. If the former, it will be better value than a specific BTL mortgage.

Pinkleylandii

I did that, advised my lender who was okay with it but I was required to use a management agency and they had to provide a tenancy agreement of the rental for the lender. I have had no bother.

On the other side a excellent deal on a buy to let is standard life 4.99% fixed for 2 years no tie ins out of that period 80%LTV.

MarkyMarkD

Well, sort of an excellent deal but a non-BTL mortgage 2 year fixed would only cost around 4.25%. So you are paying 1.5% extra over the 2 years for the privilege of having a BTL mortgage which is a material amount of money to most people.