Best Buy To Let Mortgage - Where Can I Find A Good Deal?

Property is big business and many people today are considering renting out a property in order to get extra income and to have an investment for the future. If you would like to be a landlord and don't have large amounts of savings you will need to get a mortgage on the property that you intend to rent out and this type of mortgage is known as a buy to let mortgage.

A buy to let mortgage is often an interest only mortgage where the repayment is met by the rental money with the remainder left over to act as profit, or for the owner to put aside for upkeep of the property or other costs. However not all buy to let mortgages are the same and it is important that you get the best buy to let mortgage that you can.

Recently we have seen the criteria for btl mortgages tighten up with the downfall of Mortgage Express, who were the largest buy to let mortgage lender in the UK. Today there are only two main buy to let mortgage lenders and as such the flexibility on criteria is limited due to this lack of completion.

How to get the best buy to let mortgage
There are different ways in which you can find the best buy to let mortgage which include-
Speaking to lenders to find out if they offer a buy to let mortgage and then having those that do explain the features to them. This can take some time and you may be subject to the buy to let lender trying to get your custom by selling you a mortgage.

Visiting different lenders websites and looking at the information contained on it to see if there is a good buy to let mortgage deal available. This too is time consuming and you still may need advice.

Visit an independent mortgage comparison website that have a range of mortgage calculator tools and comparison tools to help you to find the best buy to let mortgage.

Speak to one of the trained mortgage advisors who can offer help and support when finding the very best buy to let mortgage to suit your needs. Many independent mortgage advisors offer fee free mortgage advice so it is important to check this with the advisor first.

So if you want to avoid wasting your time going from lender to lender and being pressured and hassled into making decisions on buy to let mortgage it is important to do your home work first. With the buy to let market tightening up due to the credit crunch there are still good deals to be found, it's just that they are few and far between.