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Buy to let?

A 20% deposit is required for a buy to let mortgage and you need to be earning £25,000 per year to get approved the loan. A buy to let where the rent towards paying the mortgage of each month. There are age limits, i.e possibly 45 because if you took a 25 year mortgage when your 45 it would finish when your 70 years old. I'm thinking of investing into a buy to let but the only factor that is stopping me is the income because I'm a student.


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BTL mortgages are riskier for lenders which is why they have a higher lending criteria. There will be times when the house will be unoccupied so there needs to be evidence that you can afford repayments on that house, as well as your own. Interest rates are a lot higher to make up for the risk. It is a known fact that people are more likely to make repayments when they live in the home, another reason why residential mortgages are cheaper.

Bare in mind that many lenders have a minimum age limit of 25 and you need to be a homeowner in order to take out a BTL mortgage.