Buy-to-let mortgages

Compare buy-to-let mortgages for new investments, remortgages and options for leasing your home if you can't sell.

Compare buy-to-let mortgages[1]

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The market is tough and it's never been so important to compare buy-to-let mortgage deals to find the right one for you.

Property may not be the easy investment it was a few years ago, but with the right deal you could still make money renting out a house or flat

Paying a slightly higher rate can cost you hundreds of pounds more over the lifetime of the loan.

That's why, when you choose a buy-to-let mortgage through the site, one of L&C's qualified advisers will give you a ring to discuss whether this is the best loan for you.

If it isn't, they'll explain why and recommend a better alternative. If you're not sure which product option is right, you can call them direct on 0800 073 1959[2]

It's free advice and there's no obligation to take the deal they recommend. Just as with a standard residential mortgage, you'll need to choose between a fixed and a variable rate. You'll also need to consider which option is cheaper overall, and not just which has the lower rate.

If you need help working out the best deal for you, it's worth giving an adviser a ring. L&C's advisers are available seven days a week, so contact them to discuss your buy-to-let investment plans.

Choosing a buy-to-let mortgage

The buy-to-let market may not be the money spinner it was before the credit crunch, but it can still be a good long-term investment for the right person.


Since the crunch, there's been a fall in the number of landlord mortgages on offer, meaning there's less competition.

That makes it even more important that you compare buy-to-let mortgages and find the best deal possible.

Make sure you do the maths when you're choosing the right deal. For example, the very best rates often come with high fees.

You might find you're better off accepting a less competitive rate for a lower fee.

You can speak to an L&C expert adviser for free advice by calling 0800 073 1959[2] or requesting a call back through the mortgage comparison page.

Are you an accidental landlord? Are you only renting your home out because you couldn't sell it? Your lender may give you consent to lease but may charge you more each month. If you have enough equity in your home, you might be better off with a specialist product

They'll be able to help find the right buy-to-let mortgage for you.

Doing the maths

Lenders are far more cautious about the buy-to-let market since the property crash, so you'll need to show some pretty solid numbers if you want to secure a buy-to-let mortgage.

Most lenders demand an even higher deposit for a buy-to-let deal, usually at least 40%.

They also want to see that the rental income each month is higher than the mortgage payments.

You can usually find out how much a property is likely to bring in by ringing round a few letting agents and checking property websites for similar homes.

Compare mortgage rates and talk to an adviser to find out how likely you are to be accepted for a buy-to-let mortgage.

Unplanned investment?

Because of the sluggish housing market, there are a growing number of accidental landlords.

These are homeowners who need to move but can't sell, perhaps because they're in negative equity or because there simply isn't demand for their home.

If that's you then don't despair.

Your lender may be willing to give you consent to lease, allowing you to rent your home out and move on. Some lenders won't increase your rate, but others will.

That can be quite a shock if you're currently on a low standard variable rate.

For homeowners with equity in their property, it may be cheaper to remortgage onto a proper buy-to-let deal rather than their lender's consent-to-lease mortgage.

Compare products and speak to an adviser to find out what's best for you.

By Felicity Hannah