How and Where to Find the Best Buy to Let Mortgages

Many of the UK’s mortgage providers have recently woken up to the fact that the buy to let market is booming…and understandably they want to get in on the action. As a result there are now many more buy to let mortgage products available to choose from, but what constitutes a good deal, and how do you find the best buy to let mortgages available?

What is a Good Deal?

Before you can find yourself a list of the best buy to let mortgages you need to decide what criteria you are going to use to measure the attractiveness of the deal. For instance, are you limited in terms of deposit money? If so then a good deal for you would be a mortgage that only requires 25% of the purchase price as a deposit. Do you have the exact amount of deposit but nothing in reserve to pay arrangement fees and solicitor’s bills? In this case, you’d want to look for a mortgage deal that allows you to incorporate any additional costs into the amount borrowed.

The best buy to let mortgages for you will be those that suit your particular circumstances. Paying a bit less in terms of deposit may mean paying a little more in terms of interest charges, but if this means you can get your career in property investment off the ground it is worth considering. Decide what you need from a mortgage and then look for the best buy to let mortgages that fit the bill.

Where to find the best buy to let mortgages for you

There are two methods commonly used to research the mortgage market. One involves doing the research yourself and can be quite time consuming, while the other makes use of a mortgage broker or financial advisor.

Researching the market yourself

It isn’t difficult to use one of the popular comparison sites to compile a list of the best buy to let mortgages for your needs. It will take a fair amount of time to compare all relevant details though, and then you have to fill in application forms and provide accompanying documents.

Hiring the services of a mortgage broker or financial advisor

Mortgage brokers and qualified financial advisors can often find mortgage deals that aren’t available through other means i.e. on the comparison sites. In fact, many of the best buy to let mortgages are found in this way however mortgage brokers and financial advisors rarely come cheap. You need to weigh up the fees charged by the mortgage broker against the savings they can get you by using their contacts. If the savings outweigh the fees then you’re definitely on a winner.