Buy to Let Mortgages in Oxford

Typically speaking, the minimum deposit for obtaining a buy-to-let mortgage in Oxford is 25% of the value of the property in question That being said, depending on your history as a landlord, this amount may vary somewhere between 20%-40%.

The amount that you can borrow for a buy-to-let mortgage in Oxford will be determined by the projected rental income for the property. Additionally, the majority of mortgage lenders will require you to have your own income from either a main job or self employment.

There are some lenders may not be so interested in looking at your personal income for a buy-to-let mortgage in Oxford, whereas others will want you to be earning £25,000 pa or more.

If you have a suitable amount of equity within your property and can release this equity via a remortgage in Oxford, this can be used for a deposit on a buy-to-let property. Remember, the deposit for a buy-to-let is typically 25%, though can be somewhere between 20%-40% depending.

To answer this simply, yes, you may be able to obtain a buy-to-let mortgage as a first time buyer in Oxford. That being said, it can be challenging, and the majority of lenders will prefer that an applicant who is a current homeowner, over someone who hasn’t made mortgage payments before.

By having a mortgage broker by your side will give you the chance to be informed of the options that are available to you based on your financial and personal circumstances.

Being a mortgage broker in Oxford, we are able to use our extensive experience to guide you through the process and help you get ahead of any mortgage hurdles in your way.