Buy to let

Starting a side hustle? Growing your property empire? If you want to buy a home and rent it out, securing a buy-to-let mortgage is a good place to start.

Buy to let

An investment in your future

Starting a side hustle? Growing your property empire? If you want to buy a home and rent it out, securing a buy-to-let mortgage is a good place to start. 

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What is a buy-to-let mortgage?

Buy-to-let mortgages are perfect for landlords who want to rent out their property rather than live it in themselves. They're suitable for people hoping to use a rental home to boost their income or for those who want to expand their property portfolios.

Most mortgage providers prefer borrowers to take out a buy-to-let mortgage if they plan to rent it out in the future. Some standard residential mortgages have clauses that prevent borrowers from letting out their homes.  

Please note; some buy to let mortgages are not regulated by the Financial Conduct Authority.

What should I keep in mind? 

Most buy-to-let mortgages are offered on an interest-only basis, although some give you the option to make capital repayments as a standard mortgage would.

An interest-only mortgage means you only pay back the interest on the loan, usually on a monthly basis. When the mortgage term ends, or if you'd like to leave the mortgage early, you’ll need to pay back the loan in full. You might be able to do that with savings or by selling the property.

Buy-to-let mortgage lenders tend to ask for a higher deposit: usually up to 40% of the total property price. There are additional costs to be aware of like stamp duty fees, which are charged at a higher rate for second properties.

Mortgage providers will be keen to see evidence that you can rent out the property at a higher monthly price than your mortgage payments. Usually, you’ll need to indicate how much you expect to receive in rent and outline your reasons for the estimate.

Finally, you’ll need to reflect on what will happen if your property becomes damaged or unoccupied for several months. Some lenders will ask that you arrange landlord insurance before they approve your mortgage. 

You'll need to consider:

  • What kind of buy-to-let mortgage to apply for
  • How to pay back the remaining loan at the end of an interest-only mortgage term
  • How much rent you could reasonably charge for the property.


You'll also need to demonstrate that:

  • A large deposit saved up 
  • A reasonable expectation of monthly rental income that's higher than your mortgage repayments
  • A plan in place if your property is damaged or unoccupied

How can Trulife help?

Trulife mortgage advisers can explain the application process for buy-to-let mortgages, and help you reflect on your options. Because we work closely with select mortgage providers, we can often help you find great offers that aren't available elsewhere.

We'll offer support with:

Explaining the process of securing a buy-to-let mortgage

Explaining the process of securing a buy-to-let mortgage

Understanding the ins and outs of the application process

Understanding the ins and outs of the application process

Searching for the best buy-to-let offers at the best available price

Searching for the best buy-to-let offers at the best available price

Answering any questions you may have about buy-to-let mortgages

Answering any questions you may have about buy-to-let mortgages

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What next?

If you’re thinking of getting a buy-to-let mortgage, talk to Trulife. We’ll quickly connect you with a member of the team and help you find a mortgage that fits in with your plans for the future.

Let's chat

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