It's Free to Speak to an Advisor, 7 days, 8am - 10pm

Buy to Let Mortgages in Luton

Buy to Let Mortgages in Luton provide funding solutions for property investors.

0800 029 3757Speak to an Advisor - It's Free!
Reviews IO Logo

Read our 2000+ Reviews

Reviews Logo

Buy to Let Mortgage Advice in Luton For New and Existing Landlords

If you’re considering venturing into the buy to let market in Luton, it’s essential to understand the intricacies of securing a mortgage tailored for this purpose. Unlike traditional mortgages that heavily scrutinise personal income, buy to let mortgages focus more on the potential rental income from the property.

If you currently have a buy to let or multiple buy to let properties, you may find that investing in an additional property could be easier. Lenders often view experienced landlords more favourably, potentially offering better terms and rates based on your proven rental income track record.

While some lenders may require a minimum personal income of £25,000 per annum or more, others are more flexible and consider your ability to generate rental income. If you’re new to buy to let investments or looking to expand your portfolio as an existing landlord, there are options available for both scenarios.

Speak to an Advisor - It's Free!
Video BG One Video BG Two
Service Icon

Looking to purchase with your Ltd. company in Luton?

Seeking advice from an accountant is advisable if you are contemplating this route. They can provide valuable insights into the financial implications and benefits of purchasing properties through a Ltd Company.

Speaking with a reputable mortgage broker in Luton like us, also offers significant advantages. Our mortgage advisors in Luton professionals have access to a vast array of buy to let mortgages deals tailored for both new and seasoned landlords. By leveraging their expertise, you can explore numerous options and secure competitive rates that align with your investment goals.

Why use a buy to let mortgage broker in Luton?

Using a buy to let mortgage broker in Luton offers many advantages:

  • Brokers have extensive knowledge of the market and access to a wide range of lenders, including exclusive deals. They handle the complex processes and paperwork, saving you time and effort.
  • Their personalised service ensures the mortgage aligns with your financial goals.
  • With strong lender relationships, brokers can negotiate better rates and terms, enhancing your investment’s profitability.
  • They provide continual support and impartial advice, comparing various products to find the best option for you.

Speak to an Advisor - It's Free!
Video BG OneVideo BG Two

Common Buy to Let FAQs in Luton

How much deposit do I need for a buy let mortgage in Luton?

Accorion Arrow

When diving into the world of buy to let mortgages in Luton, it’s essential to understand that the typical minimum deposit required is 25% of the property’s value. However, this percentage can vary between 20-40% based on your experience and track record as a landlord.

In Luton, the flexibility in deposit percentages offers both opportunities and challenges for aspiring landlords. By showcasing a strong history of successful tenancies and prudent financial management, you may negotiate a lower deposit requirement. Conversely, limited experience or financial setbacks could lead to a higher deposit expectation.

How much can I borrow for a buy to let in Luton?

Accorion Arrow

When considering a buy to let mortgage in Luton, the key factor that lenders will focus on is the expected rental income from the property. This plays a crucial role in determining the amount you can borrow and the terms of the mortgage agreement.

In addition to rental income, most mortgage lenders will require you to have a stable income from either full-time employment or self employment. This demonstrates your ability to cover mortgage payments, especially during periods of vacancy or unforeseen expenses.

For those looking to venture into buy to let investments, it’s essential to seek expert advice from mortgage advisors in Luton who specialise in this area. They can provide valuable insights into the local property market trends and help you navigate the intricacies of buy to let mortgages.

How much do I need to earn to get a buy to let mortgage in Luton?

Accorion Arrow

When applying for a buy to let mortgage in Luton, the income requirements can vary among lenders. Many lenders may want you to be earning £25,000 pa or more.

It’s essential to explore different lenders and their specific criteria to find the best fit for your financial situation. By speaking to mortgage advisors or brokers who specialise in buy to let mortgages, you can gain valuable insights into the options available to you.

Can I use the equity in my house for the deposit on a buy to let in Luton?

Accorion Arrow

Unlocking the equity in your property through a remortgage in Luton can provide you with funds to invest in a buy to let property. The amount of equity available will determine the deposit you can put down on your new investment.

Typically, buy to let mortgages require a deposit of around 25%, although this percentage can vary between 20-40% based on individual circumstances.

Can I get a mortgage on a buy to let in Luton as a first time buyer?

Accorion Arrow

As a first time buyer in Luton looking to venture into the buy to let market, you may wonder about your chances of obtaining a buy to let mortgage. While it is true that some lenders may prefer applicants with homeownership experience and a history of mortgage payments, there may still be opportunities for you to secure a buy to let mortgage.

When applying for a buy to let mortgage in Luton as a first time buyer, it’s essential to understand that lenders will assess your application based on various factors. These will include your credit score, income stability, rental income projections, and the property’s potential for rental yield.

While being a homeowner can sometimes work in your favour, it is not always a strict requirement.

Reasons to Choose Us

Availability 7 days a week

Whether it's during the morning or later in the evening, offer flexible appointments that can be scheduled at a time that suits you best.

Free buy to let mortgage appointment

As a mortgage broker in Luton, we offer free mortgage appointment. You only pay upon successful completion of your buy to let mortgage application.

5-star service

Your personal case manager will guide you through the entire process of securing a buy to let mortgage.

Open and honest mortgage advice in Luton

Navigating the world of buy to let mortgages in Luton can be daunting, but with our guidance, you can confidently take the first step towards growing your property portfolio.

Protecting you and your family

By speaking to our experts and exploring insurance options alongside your buy to let mortgage in Luton, you are taking proactive steps towards securing your financial future.

We search 1000s of mortgage options

We will always try to save you both time and money. Our goals always align with yours.

20+ years experience

Our personalised approach ensures that you receive bespoke solutions that cater specifically to your investment plans and financial situation.

By your side through the whole journey

Our team is here to guide you through the process seamlessly, we are equipped to assist you every step of the way.

Our Customers Love Us

Reviews Stars2000+ 5-Star Reviews

Buy to Let Considerations in Luton

Buy to Let Mortgage Calculator in Luton

Accordion Arrow

A buy to let mortgage can be complex, making standard mortgage calculators less accurate for these purposes.

To estimate how much you can borrow, you need to start with the potential rental income from the property. Typically, lenders require the rental income to cover the mortgage payments by at least 120%.

Additionally, you will need to put down a minimum 20% deposit, though a larger deposit can help lower your monthly payments.

While a general calculator can provide a rough estimate, your mortgage broker will offer a precise calculation based on your specific circumstances. They will determine how much you can borrow and what your monthly payments will be, ensuring your investment is financially viable.

Buy to Let Mortgage Rates Luton

Accordion Arrow

Buy to let mortgage rates are generally higher than residential mortgage rates due to the increased risk for lenders and the more thorough underwriting process involved. These rates can be fixed for specific terms, typically 2, 3, or 5 years, or they can be variable.

Many landlords opt for interest-only buy to let mortgages to minimise their monthly payments, allowing them to maximise rental income.

In addition to standard buy to let mortgages, product transfer deals and further advance mortgages are often available, providing flexibility for landlords looking to refinance or expand their property portfolio.

Understanding these rates and options is crucial for making informed investment decisions in the Luton property market.

Retirement Buy to Let Mortgages Luton

Accordion Arrow

Retirement buy to let mortgages in Luton cater to older landlords by focusing on rental income rather than personal income. This approach allows for longer mortgage terms, making it feasible for individuals over the age of 70 or 80 to secure a mortgage, provided they can demonstrate experience as a landlord and a stable income.

For residential properties, there are additional options for those over 50 and over 60, including retirement interest-only mortgages and equity release.

Interest Only Buy to Let Mortgage Luton

Accordion Arrow

Most buy to let mortgage deals in Luton are on an interest-only basis, helping landlords keep costs low and maximise profits. With interest-only mortgages, you only pay the interest each month, not the capital.

At the end of the mortgage term, the full loan amount must be repaid as a lump sum. This repayment can come from various sources, such as savings, a pension lump sum, a remortgage, or the sale of the property.

Interest-only buy to let mortgages in Luton can have fixed or variable rates, offering flexibility for budgeting and peace of mind. Additionally, product transfer deals with your existing lender may be available once the fixed rate period ends.

Buy to Let Bridging Loan Luton

Accordion Arrow

A buy to let bridging loan in Luton, also known as bridging finance, is a short-term borrowing solution designed to bridge a financial gap. These loans typically have terms of 12 to 24 months and are often repaid through a buy to let remortgage.

Bridging loans in Luton can be set up quickly, acting as a ‘chain break’ until a property is sold or a new mortgage is arranged. They are particularly useful in property transactions where timing is critical, with the ability to be established within days.

Commonly used by investment property owners for development projects or high-end residential purchases, bridging loans help manage gaps between sales and purchases. It’s essential to factor in the costs of bridging finance into your return-on-investment calculations to determine if the benefits outweigh the additional fees.

We Search 1000s of Buy to Let Deals in Luton

Fleet Mortgages
Paragon Mortgages
TSB Mortgages
Bluestone Mortgage Advice
BM Solutions Mortgages
Chorley Building Society
Precise Logo
Pepper Money
Mortgage Works
Coventry Building Society
Natwest Mortgage Advice
Hinckley and Rugby Building Society
Kensington Logo
Accord Mortgages
Aldermore Mortgage Lender
Beverley Building Society
Kent Reliance
Virgin Money & Mortgages
Leeds Building Society
Scottish Widows
Foundation Home Loans

UK Moneyman Limited is Registered in England, No. 6789312
Registered Address: 10 Consort Court, Hull, HU9 1PU.

Authorised and Regulated by the Financial Conduct Authority.

We are entered on the Financial Services Register No. 627742 at

Equity Release Council Logo
Facebook Image X Logo Instagram Image YouTube Image LinkedIn Image SpotifyImage TikTok Image

Speak to an Advisor – It’s Free!
7 Days a Week, 8am – 10pm

Speak to an Advisor - It's free Enquire Online 0800 029 3757
We use cookies to enhance your customer experience. More detailsGot It