Buy-to-let mortgages

For people looking to start or expand their buy-to-let portfolio.

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Buy-to-let mortgage specialists

The application process for a buy-to-let mortgage can be tricky to navigate, especially for those with complex or multiple income streams.

Cleerly is here to help.

For over 15 years, Cleerly has been helping people to successfully apply for buy-to-let mortgages. With thousands of applications under our belt, our mortgage consultants have the expertise and the experience to help you start, expand or remortgage your property portfolio.

We make it really easy to start your buy-to-let journey with us. To get the ball rolling with your application, simply provide us with some information about your employment and financial background.

We’ll then send you mortgage quotes straight to your inbox. Alternatively, our friendly advisors are on the end of the line. Just give us a ring on 02394 212 912.

Compare buy-to-let mortgages

Try our quick and easy mortgage calculator

Our buy-to-let mortgage calculator gives you a glimpse into the kind of mortgages that are available. Enter details like the property value, how much you wish to borrow, how much you can pay back each month, and your expected rental income, and it’ll reveal a selection of mortgages that our mortgage consultants could help you to apply for.

Buy-to-let mortgage specialists

What are buy-to-let mortgages?

Buy-to-let is a type of mortgage designed for properties that are purchased with a view to renting them out.

A buy-to let-mortgage typically comes with a higher interest rate due to the risks involved. For example, a lender will want to make sure that you can still make mortgage payments on your property if you have no tenants.  

A buy-to-let mortgage also typically comes with: 

  • A minimum 25% deposit requirement
  • Higher product fees
  • A requirement for you to already be an owner-occupier

What documents are required for a buy-to-let mortgage?

Your dedicated Cleerly mortgage specialist will help you collate all the paperwork needed for your application, typically this will be:

Why choose Cleerly?

Cleerly is the go-to specialist broker for buy-to-let mortgages

Starting or expanding your property portfolio is an exciting time. Whether you’re planning for your retirement or looking for ways to invest your hard-earned cashour team of specialist mortgage consultants will help you to find and apply for the right buy to let mortgage for you.

Not only that, but we’ll also make sure that you understand the whole buy-to-let process, so you can make an informed decision before the paperwork gets underway.  

Our 4.9 rating on Trustpilot speaks for itself. When you choose Cleerlyyou’ll be able to concentrate on your contracting work knowing that our experts are working hard behind the scenes to push your buy to let mortgage application through 

Please feel free to call us on 02394 212 912 or request a callback.

Your buy-to-let options

Buy-to-let mortgages tend to be interest-only, meaning you only pay back the interest each month and settle the balance at the end of the mortgage term. There are several different types of buy-to-let mortgages, including:

An introductory fixed deal set for a specific number of years (usually 2 or 5) at the start of your mortgage where the interest rate will stay the same throughout. At the end of this period, the lender will move you on to their standard variable rate, which will typically be higher, unless you switch to a new deal.

Each lender sets their own standard variable interest rate. While this rate typically tracks above the Bank of England's Base Rate, it's at the discretion of the lender how they wish to set their rate, which could be adjusted higher or lower. You wouldn't usually opt for an SVR mortgage deal from the outset; rather, your morgage would move onto a SVR once the fixed, tracker or discount rate preriod comes to an end, unless you've switched to a better deal.

Similar to a tracker rate mortgage, this introductory rate means you will pay a set percentage lower than your lender’s SVR. For example, if the variable rate was 4%, the lender might offer a 2-year discount of 1%, giving you a payment rate of 3%. Your discount from the SVR is set at outset, but the SVR itself can change, which can have an impact on the rate you pay at any given time. 

A type of variable rate mortgage linked to the Bank of England's base rate. When the base rate goes up or down, so will your mortgage interest. For example, if the Bank of England base rate is low, the amount you pay will be less, as you won’t have as much interest to pay on top of your mortgage repayments. But if the rate is high, you will have to pay more each month. Similar to the discount rate, you track the Bank of England’s base rate, rather than the lender’s SVR.

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Ready to talk?

There are multiple ways to get the ball rolling with us

Use the contact online form to tell us a bit about your financial background. We’ll then send you buy-to-let mortgage quotes straight to your inbox.

Alternatively, you can speak with one of our mortgage experts over the phone or use our online mortgage calculator.

Buy-to-let mortgage FAQs

Individuals with complex or multiple income streams often face challenges when applying for buy-to-Let mortgages as lenders may find it difficult to assess income stability and affordability, especially when income is unconventional or irregular. The documentation process can also be more demanding, requiring extensive paperwork to substantiate income. Additionally, some lenders may perceive borrowers with complex income streams to be 'higher risk', leading to limited options or poorer deals. Engaging a mortgage broker can help navigate these challenges, ensuring all income is accurately represented and lenders who are more amenable to complex income scenarios are found.

A mortgage broker such as Cleerly simplifies the buy-to-let mortgage process by providing informed guidance based on your circumstances and future needs. With access to a variety of lenders, some of whom only accept applications through brokers, Cleerly can help landlords secure better mortgage rates. This is especially beneficial for new landlords, particularly those with complex or multiple income streams who may otherwise struggle to navigate the application process and secure a good deal. 

There is no set rule for the amount of buy-to-let mortgages a person can have, with different lenders having different criterias. If you're a landlord looking to expand your portfolio, speak to our specialist mortgage consultants who can advise on which lenders have a cap and which ones don't.

The borrowing amount for a buy-to-let mortgage is chiefly determined by the property's projected rental income, unlike a residential mortgage which is based on your salary and expenditures. Typically, lenders require the rental income to be at least 125% of the monthly mortgage payments on an interest-only basis, which they calculate on a higher ‘stress test’ rate than the one you pay. For instance, if your mortgage is £800 a month, the lender could insist that the rent should be at least £1,000 a month. Additionally, most lenders require you to have a personal income. A mortgage broker can help you to navigate the criteria requirements for both personal and property income to ensure you have the most suitable deal. 

For a buy-to-let mortgage, a higher deposit usually secures a better mortgage deal, leading to lower monthly payments and a wider margin between your rental income and mortgage costs. Typically, a minimum deposit of 25% of the property's value is required. However, some lenders may accept a deposit as low as 15% if the projected rental income is very good. By putting down a larger deposit, you will benefit from lower mortgage rates, enhancing the profitability of your buy-to-let investment.

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