Find out how much you can borrow with a buy to let mortgage repayment calculator
Buy to let mortgage repayment calculator
Need help with finding the right mortgage for a buy-to-let property? Borrowing money in order to purchase a house for its rental income is not the same as buying a family home, and many potential landlords struggle to find lenders who are willing to lend them money to buy the home in the first place. This is because the banks are less willing to lend to customers who might pose a risk, such as landlords who are dependent on rents to pay the mortgage.
How to ensure you will be accepted
If you want to make sure that you are able to borrow the money to purchase a buy-to-let property, then it makes good sense to work out the highest mortgage you can get from your lender, and use this to set the budget for the property you intend to buy. Doing the calculations this way can help you to feel more secure when you submit a mortgage application, since you can feel fairly sure that you will be accepted if you have done your homework.
Using a buy to let mortgage calculator
A calculator will help you with your application
The easiest way to work out if you are able to obtain a mortgage for a buy to let property is to use a buy to let repayment mortgage calculator which is specifically set to answer buy to let questions. These are set to calculate the higher rate of repayments that you will be expected to pay, so that you can easily see what your upper limit is for any kind of BTL mortgage. The calculator allows you to work out the cost of fees by computing how much the property costs, and how much rent you will expect to charge for the property in order to make the deal “stack up”. If you have looked at a number of different properties, or have a list of typical prices in your area, then you can submit these details and work out exactly how much you can borrow using a range of different lenders.
It is important to remember that the price you are calculating will result in a conservative borrowing amount. Your bank may offer you a higher loan, depending on your previous history with them.
Related buy to let mortgage product pages
85% buy to let mortgages | 80% mortgages | 75% buy to let mortgages | 70% buy to let mortgages | 65% buy to let mortgages | 60% buy to let mortgages | Buy to let Mortgage Broker | Buy to Let Mortgage Calculator
Related fixed rate mortgage deals
2 year fixed rate buy to let mortgages | 3 year fixed rate buy to let mortgages | 5 year fixed rate buy to let mortgages | Compare all fixed rate buy to let mortgages
Related mortgage articles