What is a buy-to-let mortgage?
A buy-to-let mortgage is a mortgage on a residential property that you intend to rent out. They work much like a mortgage on your own home.
You can get a buy-to-let mortgage on a property you're buying, or a property you already own and want to turn into a rental (like a property you've inherited).
If you're purchasing a commercial unit, office or other business premises as an investment and intend to rent it out, see our range of Commercial mortgages.
Am I eligible for a Together Buy to Let mortgage?
Get in touch with us to discuss your eligibility. Enquire today.
How much deposit do I need for a Together Buy To Let mortgage?
We have several Buy to Let mortgage products, and the minimum deposit (or equity, if you're remortgaging) we insist on varies based on the property and your circumstances.
Can I change my mortgage to a Buy to Let mortgage?
If you've already got a mortgage on your home and want to rent it out, you may not need to do anything. Speak to your existing mortgage provider to find out; some lenders will give their consent, and some will insist you switch to a specific buy-to-let mortgage product. It often depends on the circumstances.
If they're insisting you switch, remember you have the option to shop around. Make sure you check if there are any Early Repayment Charges associated with switching to another lender.
Why choose a Together Buy to Let mortgage?
We have over four decades of lending experience, and have helped thousands of landlords to access the finance they need. Over the years, we've honed our common-sense approach; one which enables us to be more flexible and pragmatic when reviewing your application.
We recognise that many of the most lucrative rental properties are those which some lenders may describe as 'difficult to mortgage', because of their position, condition, or current use. It's why we use people, not computers, to make the final lending decision. And means we can often lend when others can't.
How do you decide my interest rate?
The rate you're offered may be influenced by several factors, including:
- The type of rental property you have (e.g. long-term rental, or short-term holiday let).
- The value of the property you're using to secure the mortgage.
- How much you need to borrow (both in total, and as a percentage of your property's value).
- Your credit history (but not your credit score).
What fees will I have to pay?
We charge an Arrangement Fee, and some of our Buy to Let mortgages include an Early Repayment Charge, which you'll pay if you elect to remortgage with another lender or repay your loan in full before the term ends.
We also charge a Redemption Administration Fee when you 'redeem' (i.e. fully repay) your mortgage, to cover costs associated with closing your account and dispensing our legal claim to your property.
All of these fees can vary, so we'll ensure that the fees that apply to your particular mortgage are clearly explained before you sign on the dotted line.
Other fees and charges may be applied to your account during the life of your mortgage, in relation to the management of your account (for instance, if you fall behind on your monthly payments). These are all explained in our Tariff of Charges.
How do I get in touch?
Any property used as security, including your home, may be repossessed if you do not keep up payments on your mortgage.
Together offer a range of regulated products and unregulated products. Together Personal Finance Limited are authorised and regulated by the Financial Conduct Authority (FCA) and offer products including (but not limited to) Personal mortgages, Secured loans, Consumer Buy to Let mortgages and regulated Bridging loans.
Our unregulated products are provided by Together Commercial Finance Limited and include (but are not limited) to unregulated Bridging loans, Buy to Let mortgages, Auction finance and Development finance.