Buy to Let Mortgages in Sheffield.

Buy to let mortgages are for landlords who want to buy a property and rent it out.

Just like regular mortgages, buy to let mortgages come with their own set of rules and regulations. We will show you how they work and what errors people usually make when applying for a buy to let mortgage.

No Broker Fee

Pay no broker fee when you consult or get started with us.

Minimum Paperwork

We take care of the paperwork for you, with minimum work for yourself

Best Market Deal

Getting the best market deal, also find the best deal from your current lender

Can I get a buy to let mortgage in Sheffield?

For those looking to take out a buy to let mortgage under the following conditions:

You want to invest in residential property.
You can afford to take the risk of investing in property
You own your home already, whether you have an outstanding mortgage or not.
You have a solid financial status and credit history
If you earn less than £25,000 a year your purchase may not merit approval with some lenders.
It is unlikely that you will be approved for a loan if you are over 70 years old

Have Any Questions?

Contact our expert team for buy to let mortgage advice in Sheffield

How do buy to let Mortgages work?

Purchasing a property with the intention of renting it out is more challenging than an ordinary mortgage. It has some key differences, such as…

Higher fees tend to be associated with these types of accounts.
The interest rate is usually higher
The minimum deposit for a buy to let mortgage is usually 25% of the property’s value. That said, it can vary between 20% – 40%.
Buy to let mortgages are typically interest only, which means you pay the interest each month and not the capital amount. Although at the end of your mortgage term you will repay this original loan in full.

The kind of mortgages that insurance brokers and banks offer to consumers for buy to let investments is subject to the same regulations as those covering residential housing.

How much can I lend?

The maximum you can lend is linked to the income amount forecast from your rental property.

Lenders usually need the rental income to be 25–30% higher than your mortgage payment.

To figure out what renters might expect to spend on rent, try talking to professionals in the tenant market or find median pricing for houses in Sheffield

Our Services

Fast & Bespoke Mortgage Advice in Sheffield

We love helping all our customers, especially the ones who really need Mortgage Advice in Sheffield – it’s not just about finding a mortgage. It’s about the journey, we will help you through the full process.

First Time Buyer

Buying your first home can be a little bit daunting, but we’re here to help with all the challenges of finding your perfect place.

Remortgages

Looking for a better mortgage deal? The process is often not as easy as it first appears.

Moving Home

Thinking of selling your existing property and moving to a new home? It’s important that you try and budget accurately.

Buy-to-Let

This can be one of the popular mortgage options available for those wishing to invest in residential & rental property.

Call us today!

To speak with a mortgage advisor Sheffield, book your FREE mortgage appointment online or give us a call.

Where to get a buy to let mortgage?

Most large banks and a few other institutions offer buy to let mortgages. A broker such as ourselves can provide you professional advice and expertise as to which lender to choose.

Get started online now

Book your fee-free consultation today!

Frequently Asked Questions

How much deposit do I need for a mortgage?

A minimum deposit is required for purchasing a property in Sheffield. High street lenders typically require a 5% deposit. A higher deposit may be required if you have had credit problems in the past.

Can I get a mortgage if I am self-employed?

Yes, however, you must submit at least one year’s worth of accounts. To compute the maximum mortgage, most lenders in Sheffield use your salary and dividend, while others may use your net profit.

Can I get a second mortgage?

Second mortgages are possible. This includes debt consolidation and home improvements. A second mortgage can also be obtained on a second property, but only if it is for the owner’s personal use, a family member’s use, a holiday home or a rental property.

How long does the mortgage process take?

It will take about an hour for our free mortgage consultation in Sheffield. Upon completion of your consultation, we can arrange an agreement in principle for you in about 24 hours. A formal offer takes about three weeks.

What documents do I need to send you?

You must provide three payslips to prove your income if you are an employee. You will need to supply the latest 2 years’ accounts if you are self-employed in Sheffield. Additionally, you must provide proof of identity, address, and three months of bank statements.

How long will an agreement in principle be valid for?

An agreement in principle typically lasts between 30 and 90 days, but it can vary based on your lender. It is quite simple to renew an agreement in principle if it expires.

I have bad credit, can I still get a mortgage?

You can do it, but it will be harder. By putting down a higher deposit, perhaps 10% or 15% of the purchase price, you can demonstrate that you can afford a mortgage.

Sheffield, UK

Sheffield, a city in South Yorkshire, England, is the seat of the City of Sheffield‘s government. The River Sheaf, which flows through the city, gave rise to the name. It was formerly a part of the West Riding of Yorkshire, and portions of its southern suburbs were given to the city council by Derbyshire. The largest community in South Yorkshire is there.

The city is situated in the valleys of the River Don and its four tributaries—the Loxley, the Porter Brook, the Rivelin, and the Sheaf—in the eastern foothills of the Pennines. A third of Sheffield is located within the Peak District national park, and 61% of the city is made up of green space.