Contractor Buy To Let Calculator
Your home may be repossessed if you do not keep up repayments on your mortgage
Calculator for Buy To Let
Are you looking for a contractor buy to let mortgage you can now get a new mortgage or remortgage for your buy to let with deposits as low as 15%
As with all mortgages for contractors underwriters and mortgage lenders have now acknowledged that you are not a high risk borrower. This means you are now eligible to a full range of buy to let mortgages.
You can use our contractor buy to let mortgage calculator to work out how much you may be able to borrow to finance your buy to let investment.
How is it worked out?
But to let mortgage are worked out on the return that the property could make you in monthly rental income. It is finding a balance between rental income and monthly mortgage payment. If you know the type of property that you are looking to buy and the potential rental income that could be made from this property you could use our calculator to see if you could borrow what you need.
Things to take into account when loking at buy to let
There is many things to consider when looking to purchase a buy to let property. The main thing to take into account is your research. We suggest looking at five things when looking to purchase a buy to let.
- Speak with local landlords
- Contact local estate agents
- Seek advice from a specialist mortgage broker
- Understand the rental market in the area
- Take into account new developments & How this may affect your investment
A buy to let property should be seen as a long term investment and should not be something that is entered blind. Get your information speak with local experts and people that have buy to let properties in the area.
To start your research you could get an estimate on what you may be able to borrow using our buy to let mortgage calculator.