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Buy to let Mortgage Advice

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Buy-to-let mortgages are for landlords who want to buy a property in the Doncaster area and rent it out.

Just like regular mortgages, buy-to-let mortgages come with their own set of rules and regulations. In this article, we walk you through how they work and what mistakes people usually make when applying for a buy-to-let mortgage.

Who can get a buy-to-let mortgage in Doncaster?

For those looking to take out a buy-to-let mortgage under the following conditions:


  • You want to invest in residential property.


  • You can afford to take the risk of investing in property


  • You own your home already, whether you have an outstanding mortgage.


  • You have a good credit record and are not in dire need of cash, or desperate for more credit. 
  • If you earn less than £25,000 a year your purchase may not merit approval with some lenders.


  • The age limit for a loan will depend on the type of loan you choose, but generally speaking, most lenders won’t approve applicants older than 70 or 75.

How do Buy-to-Let Mortgages work?


Buying a property with the intention of renting it out is more challenging than an ordinary mortgage. It has some key differences, such as…

  • Higher fees tend to be associated with these types of accounts.
  • Interest rates for landlords can be higher.
  • The minimum deposit for a buy-to-let mortgage is usually 25% of the property’s value. That said, it can vary between 20% – 40%.
  • Buy-to-let mortgages usually interest only, which means you pay the interest each month and not the capital amount. Although at the end of your mortgage term you will repay this original loan in full.

The kind of mortgages that insurance brokers and banks offer to consumers for buy-to-let investments is subject to the same regulations as those covering residential housing.

The maximum you can borrow is linked to the income amount projected from your rental property.

Lenders typically need the rental income to be 25–30% higher than your mortgage payment.

To figure out what renters might expect to spend on rent, try talking to professionals in the tenant market or find median pricing for houses in your area.

How much can you borrow for buy-to-let mortgages?


Where to get a buy-to-let mortgage

Most big banks and a few other institutions offer buy-to-let mortgages.

You should inquire about a buy-to-let mortgage with your local broker. They will be able to determine the best fit for you before applying.

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