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Buy to let mortgage advisors and brokers

Everything you need to know about finding a specialist buy to let mortgage broker

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By Pete Mugleston   Mortgage Advisor

Last updated: 13th January 2019 *

The buy to let mortgage market is vast, so expert advice tailored for individual borrowers is tough to find. There are so many niches within this sector which is why there are specialists for each one of them, including HMO mortgages, Limited company BTL deals, buy to let mortgages for borrowers with a history of adverse credit, and many more.

To find these specialist brokers, whole-of-market access is essential and that’s exactly what we do! . The buy to let specialist mortgage brokers we work with have with years of experience and access to the entire market, so make an enquiry and we  can connect you to the right advisor for you.

The following topics are covered below…

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What type of buy to let mortgage specialist brokers are there?

Online Mortgage Advisor can connect you with buy to let mortgage brokers who specialise in the following niches…

  • Bad credit BTL mortgages
  • Borrowers with complex income
  • Non-standard property types
  • Later-life borrowers
  • Different tenant types
  • Experienced landlords

If you fall into any of the above categories, seeking a broker who can offer specialist buy to let mortgage advice is essential, as going to a mainstream lender who doesn’t fully understand these niches comes with the risk of being rejected or unfavourable rates.


Bad credit BTL brokers

Having adverse credit against your name could be the difference between securing a table-topping deal or having to settle for an unfavourable interest rate. We work with specialist BTL lenders who deal with bad credit customers every day, and they can connect you with lenders who offer the best rates to borrowers with the following…

  • No credit history
  • Low credit score
  • Late payments
  • Missed mortgage payments
  • Defaults
  • CCJs
  • IVAs
  • Debt management Schemes
  • Repossessions
  • Bankruptcy
  • Payday Loans
  • and customers with multiple credit problems

Providers who cater for borrowers with any of the above my base their lending decision on how severe the credit issue is - a missed credit card payment is less severe than a bankruptcy, for instance - and the older the credit issue, the better.


Complex income BTL brokers

Mainstream lenders usually prefer borrowers to be in secure, full-time employment, but we can connect you with expert buy to let mortgage advisors who cater for customers whose income includes the following…

  • Self-employed earnings
  • Bonuses
  • Commission
  • Benefits
  • Contractor work (including Ltd company workers and umbrella company employees)
  • Pensions and other investments

Some lenders are unwilling to take one or more of the above revenue streams into account when calculating how much you’re able to borrow, so if any of your income is non-standard, specialist buy to let advice is needed to find a mortgage based on 100% of your earnings.


Non-standard BTL property brokers

Where buy to let property is concerned, the most straightforward customers are those in the market for a conventional home made from bricks and mortar. If the building you’ve got your eye on falls outside of that broad category, mainstream providers may either turn you away or offer you less favourable rates due to the perceived higher risk.

Luckily for anyone in this boat, we work with specialist mortgage brokers for buy to let properties with ‘non-standard’ features such as…

  • Thatched roofs
  • Timber frames
  • Listed buildings
  • Log-style cabins
  • And more


Later-life BTL brokers

Some buy to let mortgage providers won’t lend to anyone over the age of 75, others extend that limit to 85 and a minority will impose no age cap at all, as long as they are confident you will be capable of repaying the loan throughout your retirement years.

There are specialist BTL mortgage products geared towards later-life borrowers, and the whole-of-market buy to let financial advisors we work with can connect you with the lenders who provide them, so make an enquiry to get the ball rolling on this.


Buy to let tenant types

The type of tenants you’re hoping to attract once you have your BTL mortgage can also impact on the number of lenders who are willing to offer you credit. The most straightforward borrowers are those offering assured shorthold tenancies (ASTs) to families or young professionals, while any of the below may require a specialist lender…

  • Student lets
  • HMOs
  • Tenants receiving DSS rental support
  • Short-term tenants
  • Tenants on non-standard contracts

Any of the above are considered niche areas, so specialist buy to let advice for landlords in these sectors should be sought to find the best deals. Get in touch and the advisors we work with will ensure you’re paired up with the right lender.


Experienced BTL landlord brokers

Generally speaking, first time buyers will find it more difficult landing a BTL mortgage than a professional landlord, but those with a large portfolio may need a specialist lender.

Certain BTL mortgage providers will restrict the number of mortgages a single borrower can have at 4-5, others have higher limits, and some have none at all. Either way, if you’re a professional landlord with a sizeable portfolio, it’s always advisable to seek specialist buy to let property investment advice before adding another property to your collection.


Why do I need advice from a broker?

To put it in simple terms, the market is vast and not every lender will be in a position to offer you their best rates, as some of them use a different criteria to others.

Approaching as many lenders as possible directly is not advised since making too many applications can have an impact on your credit file, not to mention the legwork involved. Rates tables can also let you down, as some of them give prominent placement to sponsored products and therefore don’t offer a true overview of the entire market.

With these things in mind, your best bet is to use a broker with access to the entire market. That way, all of the best deals you qualify for will be within reach. The advisors we work with are whole-of-market and you can speak to one of them today by making an enquiry.


Buy to let broker fees

Broker fees for buy to let mortgages can vary across the board, and will usually depend on the complexity of the deal and the product type. For example, portfolio landlords (one with four or more properties) tend to be more complex than other borrowers.

It is possible to find buy to let mortgage brokers that charges no fees, while many of the ones which do charge will typically bill you between £500 and £999. Others may ask for 3-4% of the loan amount, and BTL broker fees for secured loans and 2nd homes can be even higher.


Should I choose a fee-free BTL broker?

When deciding whether to choose a fee free buy to let mortgage broker or go with one that charges, it’s important to calculate the overall cost of the mortgage. There’s no point taking a deal with no broker fee if the interest rate you end up on is sky high.

You should also be wary of deals that come with hefty upfront fees. At OMA, we believe that brokers should only be paid on success, so the BTL experts we work with will only charge you if they find you a suitable deal and will refund any upfront fees if they’re unable to help. Make an enquiry to speak to one of them on the phone.


Can I get a buy to let mortgage anywhere in the UK?

There are buy to let mortgage brokers who operate all over the UK. England and Wales have the broadest coverage, so if you’re after a buy to let mortgage broker in London, for example, you will have plenty to choose from, providing you’re likely to pass the eligibility checks.

So, if you’re after buy to let advice in London, or anywhere else in England or Wales, get in touch and the experts we work with will ensure you’re connected to the right lender.

That said, it is possible to find specialist buy to let brokers in other parts of the UK.


Getting buy to let advice in Scotland

Your choice of lender/broker will be fewer if you’re looking for a buy to let up in Scotland, as some place restrictions on certain Scottish postcodes and others won’t lend for properties in the Highlands or off the mainland (islands such as Mull, Skye, etc).

But luckily for anyone in the market for a buy to let north of the border, the BTL mortgage specialists we work with know exactly which lenders offer the best rates in Scotland.


Buy to let advice in Northern Ireland

Again, fewer brokers cover Northern Ireland and the ones which do tend to place restrictions on certain postcodes. This is why whole-of-market access is needed to find the best deals for you, so make an enquiry and the specialist BTL mortgage brokers we work with will give you the right advice and connect you to the best lenders for someone in your circumstances.


Advice on buy to lets outside of the UK

A lot of customers get in touch to ask for advice on securing a buy to let abroad, and there are a number of ways to do this, including…

  • Remortgaging a UK-based property to purchase a BTL overseas
  • Borrowing from a UK bank that offers loans for overseas purchases
  • Arranging an overseas mortgage from a lender based in the country in question

Navigating the murky waters of overseas mortgages can be daunting and is not without risk, so expert advice should be sought beforehand. Luckily, the specialist brokers we work with are on hand to provide advice on buy to lets outside of the UK - so make an enquiry now.


Advice on mortgage products for holiday lets

A lot of customers get in touch seeking advice on converting a buy to let into a holiday let, and the good news is that the experts we work with can provide this.

Holiday lets have become more popular than ever since the rise of services such as AirBnB, and they’re attractive to landlords as borrowing rules are less strict and the tax environment is more favourable. The only problem is that only a handful of lenders offer mortgage products for holiday lets in the UK, so this can be problematic for borrowers, especially if they fall into niche categories such as portfolio landlord or limited company.

Nevertheless, the whole-of-market brokers we work with aren’t just experts in buy to let property advice, they can also help you find the best holiday let mortgages too.


Are there online buy to let mortgage brokers?

Yes, there are brokers who will deal with the bulk of your application online, via email, SMS and other remote methods. There are also flexible brokers who can keep the deal ticking along outside of normal office hours.

Keep in mind that you will need to speak with an advisor at some point during the process to verify ID, but the majority of the application can be conducted online, if that’s your preference. Make an enquiry for free buy to let mortgage advice today.


Advice on remortgaging a buy to let

The brokers we work with are in good stead to give out the best buy to let advice for 2019, whether you’re purchasing this type of property or remortgaging one.

Remortgaging a buy to let is straightforward for some customers, but it can be more complex for borrowers whose circumstances have changed since they took out their original mortgage.

Although remortgage rates for buy to let tend to be higher than for residential, there are still great deals around - but remember, the overall cost is what is important. There’s no point taking out a deal with no upfront fees if what you’d pay in interest makes negates the initial saving. For example…

For an interest only BTL mortgage of £105,000…

Deal A: 105k + 1k fee @ 3% = 265pm Approx. total cost = £7,360

Deal B: 105k + 99 fee @ 3.5% = 307pm Approx. total cost = £7,467

Savings of £107 would be made by taking deal A, despite the higher fee.

For specialist buy to let help tailored for remortgage borrowers, get in touch and the whole-of-market advisors we work with will match you with  the lender offering the best rates.


Why choose OMA?

As previously mentioned, the market is vast and the best buy to let mortgage brokers for somebody in your circumstances are difficult to come by. Whole-of-market access will help you find them, and we can provide it, but that’s not the only reason to choose OMA.


We review, screen and the train brokers ourselves

The insight the brokers we work with provide is more reliable than what you’d find on buy to let advice forums or via a quick Google search. We only collaborate with experts who have whole-of-market access and are guaranteed to deliver a five-star service. How do we know they have these qualities? We train them ourselves!

All OMA-accredited brokers have passed a stringent course with more than 25 modules to earn their status, which means they’re well positioned to give out the best buy to let mortgage advice in the UK. They’re on hand to offer whole-of-market BTL advice now, so make an enquiry to speak with one of them over the phone.


Speak to an expert buy to let advisor

If you like anything in this article or you’d like to know more, call Online Mortgage Advisor today on 0800 304 7880 or make an enquiry here.

Then sit back and let us do all the hard work in finding the financial advisor with the right buy to let expertise for your circumstances.  – We don’t charge a fee and there’s absolutely no obligation or marks on your credit rating.

Updated: 13th January 2019
OnlineMortgageAdvisor 2019 ©

FCA disclaimer

*Based on our research, the content contained in this article is accurate as of most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The info on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs. Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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