Buy to let mortgages are one of the most popular ways to arrange financing on a property you are purchasing to rent out. You can also arrange this type of mortgage on a home that you currently own but are moving out of and would like to keep the existing house as an investment rather than sell.Buy to let mortgages are usually paid under the interest only method of payment as the lenders recognises that the property itself will be sold at some point in the future and those funds will be used to pay back the loan. If the monthly payments will be interest only and therefore much smaller than a capital repayment mortgage repayment, you will enjoy a higher amount of net monthly rent. You can also, if you wish, have your payments on a capital repayment method should you wish to repay the whole mortgage and own the property outright.
Your property may be repossessed if you do not keep up repayments on your mortgage.
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