Quotesure - First Time Buyer Mortgages

The buy to let market has boomed in recent years and with good reason. Many people are finding the traditional avenues of investing for the future are no longer either reliable or adequate on their own. The original buy to let mortgage market was open to only eight lenders but now the products available are plentiful and offered by both the high street banks and building societies as well as specialist lenders.

Applying for a buy to let mortgage is a simple and easy process that could be the begining of a wise investment for the future. Buy to Let mortgages differ from that of a standard mortgage because lenders look at the rental yield that your potential property will return as opposed to your income on a standard mortgage, although some lenders in this market look at both figures.

LenderRateTerm & TypeFeeMaximum Loan to Value
The Mortgage Works2.99%1 Year Fixed rate until 31-Jul-20113.50%60%
Rental calc 125% @ 4.99%
Early Redemption Penalty: 5% of the loan amount until 31-Jul-2011		Mortgage Quote
Coventry Building Society3.99%2 year tracker until 30-Jun-2012£105060%
Rental calculation 125% @ 3.99%
Early Redemption Penalty: 4% of the loan amount until 30-Jun-2012		Mortgage Quote
B M Solutions4.10%2 Year tracker BBR plus 3.60%3%60%
Rental calculation 125% of payrate
Early Redemption Penalty: 3% of loan amount within first 2 years		Mortgage Quote
B M Solutions4.35%1 year tracker BBR plus 3.85%3%75%
rental calculation 125% at payrate
Early Redemption Penalty: 3% of loan amount within first year		Mortgage Quote
The Mortgage Works4.69%1 year fixed rate until 31-Jul-20112.5%80%
Rental Calculation 125% @ 4.99%
Early Redemption Penalty: 5% of loan until 31-Jul-2011		Mortgage Quote
B M Solutions5.40%2 year tracker1.5%75%
Rental calcualtion 125% at Payrate
Early Redemption Penalty: 3% of loan for 2 years		Mortgage Quote
Coventry Building Society5.50%Variable Rate£105070%
Free valuation and Free legals on Remortgages
Early Redemption Penalty: None		Mortgage Quote
Rates updated : Wednesday, 19th May 2010

By completing our free mortgage quote form your details will be sent to a mortgage consultant that specialises in buy to let mortgages for property investment. By completing the mortgage quote form you are under no obligation whatsoever. You will be notified before you submit your enquiry as to who will be contacting you.

Mortgage Quote

To find out more about buy to let mortgages in the UK or for help in completing the short enquiry form please call us on 0870 160 1918 during normal office hours where one of our friendly staff will be happy to help you.

Generally the maximum mortgage offered for a buy to let is 85% loan to value but there are a small number of lenders that can now offer up to 90% loan to value. Each lender has slightly different criteria in its calculations for the maximum amount that it would offer but generally the mortgage lender will look for the monthly rental income to cover the mortgage by 100% - 130% at payrate.