Our Buy-to-Let calculator is built to help you better understand exactly how much you can borrow and how high your repayments will be when taking out a Buy-to-Let mortgage.
To find out the details of your loan, you’ll first need to input some important information it the boxes. Make sure you enter your details as accurately as you can to ensure your results are as precise as possible. The information we need from you includes:
Buy-to-Let mortgages can vary greatly in size as they can be taken out for a number of residential investment properties. A new development of city-centre flats, for example, will require a much larger loan than a single house.
At Positive Commercial Finance, we offer a wide range of Buy-to-Let mortgage sizes to accommodate all our customers. As such, we can secure Buy-to-Let mortgages anywhere from £25,000 to 50 million.
Generally speaking, most lenders expect a minimum deposit of 20% to approve a Buy-to-Let mortgage. Your deposit doesn’t impact how much you can borrow, however, it could open up cheaper interest rates for you, helping to save money in the long run.
Buy-yo-Let mortgages are commonly offered on an interest-only basis, unlike most traditional mortgages. This means that your monthly payments will only cover the interest you’ve accrued. If you wish to reduce your capital debt — the money you have borrowed from a lender — you’ll need to choose to make additional payments.
You’ll need to pay off your capital debt in full at the end of your loan term, which you can do by selling your property or by taking out another mortgage.