Buy to Let

What is Buy-to-let?

A Buy-to-let mortgage is a loan for purchasing or refinancing residential property which is let to tenants rather than lived in by the borrower. Classed as a business transaction, rates and fees are typically higher than those you would find with a standard residential mortgage.

With Buy-to-let, Chartford customers can secure a great investment by purchasing a Chartford home to rent it out.

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How it works.

• Interest rates and fees on Buy-to-let mortgages are usually higher.
• The minimum deposit for a Buy-to-let mortgage is usually 25% of the property’s value (although it can vary between 20-40%).
• Most Buy-to-let mortgages are interest-only. This means you don’t pay anything each month, but at the end of the mortgage term you repay the capital in full.
• Lenders typically need the rental income to be a 25–30% higher than your mortgage payment.

Want to know more about Buying New with Chartford Homes?

Call Chartford Homes on 0113 237 2900 or email sales@chartfordhomes.com​