Lothian Mortgage Service

Offering Impartial Mortgage Advice in Edinburgh and West Lothians

Phone Number: 0131 212 5006

Buy to Let Mortgages

Let us help you with buy to let mortgages. We offer expert advice throughout Edinburgh.

Every penny counts when you are looking for a buy to let mortgage, which often have stricter rules in comparison to a standard mortgage. With the help of our professional buy to let advice, we can help you get the best deal for your needs. 

As we are not associated with a specific lender, we can search across the entire market to find the most lucrative mortgage deals.


What is the criteria for a buy to let mortgage?

At the beginning of the year, banks revised the measures of a buy to let mortgage, which in turn made it more difficult for landlords to get approval for a mortgage. If you add the higher level of stamp duty on second homes that was introduced in April 2016, the difficulty is raised by another level.

The requirements of investing in a rental property are different based on the lender, so unless you are involved in the industry, consult with a professional mortgage adviser to work out your best option.


How many buy to let mortgages can you have?

It is important to first consider how many mortgages you can have. This depends on the risk you want to be involved in. Many people set a limit of three to four mortgage properties. One factor that is important to consider when setting this limit is to keep in mind that the regulations tend to change each year and may end up limiting landlords who already have like three mortgages to take more. 


Is a buy to let mortgage more expensive?

Buy to let mortgage is more expensive than residential mortgages due to factors that are considered by the lenders when it comes to commercial properties. This makes it important for one to consider the percentage price of this type of mortgage to be able to know the price of covering other expenses.