Lenders will lend you money ( subject to status ) to purchase a Buy to Let property in either your personal name or in a Limited Company name – Manchester Mortgages strongly recommend that you take advice from a qualified Accountant before deciding which method is the right one for you.

This article concentrates on Buy to Let mortgages for purchasing a property that is going to be let to one family unit.

Lenders have a different criteria for Buy to Let mortgages in relation to standard residential mortgages & require a minimum deposit of 20% of the purchase price.

Lenders will also take into consideration a number of things including if you already own a residential property or you are a First Time Buyer, own other Buy to Let properties and if so how many, what your income is, what the anticipated rent is and the condition of the property – it must have a current EPC ( Energy  Performance Certificate  ) with a minimum rating of E.

The rates quoted below are based a 2 year fixed rate mortgage with either a 20% or 25% deposit and are subject to change without notice.

BUYING PROPERTY IN PERSONAL NAME 

20% deposit25% deposit
2.24% with 2% of loan arrangement fee1.14% with 2% of loan arrangement fee
2.75% with £995 arrangement fee1.57% with £995 arrangement fee
3.24% with £0 arrangement fee1.71% with £0 arrangement fee

BUYING PROPERTY IN LIMITED COMPANY NAME 

20% deposit25% deposit
3.69% with 1.5 % of loan arrangement fee2.59% with £1,995 arrangement fee
3.49% with £ 995 arrangement fee2.69% with £995 arrangement fee
3.99% with £0 arrangement fee2.98% with £0 arrangement fee

As you can see there are many permutations and the choice of other terms such as 3 & 5 year rates.

Contact the Buy to Let experts at MANCHESTER MORTGAGES on 0161 706 0242 or send a message to us by using the CONTACT button so that we can guide you through all the lenders criteria to enable you to purchase that Buy to Let property.

Buy to let re-mortgages are also available.

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