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Buy to Let Mortgages Plymouth – Expert Advice from Mortgage HQ

Are you looking for a buy to let mortgage in Plymouth? Whether you’re a first-time landlord or expanding your property portfolio, securing the right mortgage is essential for getting the most out of your investment. At Mortgage HQ, we specialise in helping landlords find the best buy to let mortgage deals tailored to your needs and maximising your profit from your portfolio.

buy to let mortgages plymouth

What is a Buy to Let Mortgage?

A buy to let mortgage is specifically designed mortgage product for landlords who want to purchase a property to rent out. Unlike residential mortgages, buy to let mortgages have different eligibility to normal residential mortgages including different; deposit requirements and lending terms. Here are some key features:

  • Higher deposit requirements – Typically most lenders require a minimum deposit of 20-25%. Deals below this minimum threshold are available but may make the investment unprofitable.
  • Interest-only options – Many BTL mortgages allow interest-only repayments, keeping monthly costs lower. These can be a great option if your looking to retain a strong cash flow.
  • Affordability based on rental income – Lenders assess whether the rental income will cover mortgage repayments. Usually rental income will have to cover 125-145% of the mortgage.
  • Higher interest rates than residential mortgages – As buy to let is seen as a “higher risk” interest rates may be slightly higher than traditional residential mortgages.

Why Choose Mortgage HQ for Your Buy to Let Mortgage?

Finding the right buy to let mortgage in Plymouth can be a challenge, but with Mortgage HQ, we make the process simple and stress-free. Here’s why landlords trust us:

  1. Access to Exclusive Buy to Let Deals

As a Independent Mortgage broker we have access to deals from high street banks to specialist lenders, sometimes with special rates only available to mortgage brokers. Plus as independent mortgage brokers, we work for you and not the bank so we put your best interests first.

  1. Expert Landlord Mortgage Advice

Our experienced advisors understand the Plymouth, South Hams and UK rental markets and will help you secure the most suitable mortgage for your needs.

  1. Support for Portfolio Landlords

Whether you’re buying your first rental property or growing your portfolio, we provide tailored mortgage solutions for all types of landlords, from beginners to career landlords.

  1. Flexible Lending Criteria

We work with lenders who offer solutions for various circumstances, including first-time landlords, limited companies, and foreign nationals or ex-pats investing in UK property.

  1. Hassle-Free Mortgage Process

We handle the paperwork, speak with lenders and guide you through every step, making your mortgage application as smooth and stress free as possible.

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How to Qualify for a Buy to Let Mortgage

To improve your chances of securing a buy to let mortgage, consider the following:

  • Have a deposit of at least 20-25%.
  • Ensure your expected rental income covers at least 125-145% of the mortgage repayment.
  • Maintain a strong credit history and financial profile.
  • Be prepared for additional costs such as stamp duty, maintenance, and letting agent fees.

Get Expert Buy to Let Mortgage Advice in Plymouth

Ready to invest in property? Speak to a buy to let mortgage advisor at Mortgage HQ today and find the best mortgage deal for your rental investment. We are based in Plymouth and cover the surrounding local area such as the South Hams, East Cornwall and West Devon. Get in contact today using the contact form at the bottom of this page.

Let Mortgage HQ help you secure a profitable property investment with the right buy to let mortgage for you.