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Based in Southampton, The Mortgage Hut have a team of friendly, qualified mortgage advisers who can help with all your mortgage and insurance needs. Many of our customers come to us for advice about buy to let mortgages.

You will require a buy to let mortgage if you are buying any property that you plan to rent out. You will also need a buy to let mortgage if you are an ‘accidental landlord’- renting out a home because you were unable to sell.

How Do Buy to Let Mortgages Differ From Other Mortgages?

There are a number of differences between a buy to let mortgage and a regular residential mortgage. Buy to let mortgages normally:

  • Have higher interest rates

  • Involve higher fees - often in excess of £1000

  • Require a bigger deposit required - normally at least 25%

  • Are interest only rather than repayment

  • Have a minimum age and income requirement

  • Have a cap on the amount of mortgages you can take out and how much you can borrow

  • Work out how much you can borrow based on potential rental income of the property which must normally be at least 125% of the mortgage repayments

Buy to Let in Southampton

Many people in Southampton have chosen to invest in buy to let properties to rent out to students, professionals and families in the area. The current low interest rate which mean savers are achieving poor returns has also resulted in competitive deals on buy to let mortgages. Due to it becoming harder for first time buyers to purchase their own home, there is a good demand for rental properties both in Southampton and throughout Hampshire.

Finding the Right Buy to let Deal for You

The Mortgage Hut will assess your financial situation in order to help you decide if buy to let is the right investment you. If you decide you would like you buy a property to rent out then we can assist you in comparing the many buy to let products on the market and finding the most suitable for your circumstances.

Our mortgage advisers will be there to help you with all the help and advice you need throughout the mortgage process and can even help you arrange insurance too.

Want to find out more about Buy to Let Mortgages? Read more on our Buy to Let page or get in touch with an adviser by calling 0300 303 2640.