Considered to be a higher risk than a regular mortgage, Buy-to-Let Mortgages often come with stricter eligibility criteria from Lenders, from some which refuse to lend to first time buyers to others which place minimum salary requirements. It is important to speak to a professional Mortgage Adviser to understand what mortgage you could access based on your circumstances.
Although in essence, Buy-to-Let Mortgages work in the same way a regular mortgage does, there are a few key differences. Firstly, most Lenders require a 25% deposit of the property price. The interest rates on Buy-to-Let Mortgages are generally higher and most mortgages are offered on an interest-only basis.