Buy-to-Let Mortgage Advisors & Brokers

If you’re looking to get a buy-to-let (BTL) mortgage, using a broker is the smart way to make sure you end up with the best deal possible. But, every BTL property and situation will be unique, so it’s vital you use the right type of broker.

This guide covers everything you need to know about specialist buy-to-let mortgage brokers. You’ll find out about the services they can provide, the fees and costs involved, and how we can find you a trusted advisor to help with your property investment.

Keep reading for all the details or click on a link below to jump straight to a section…

Are there mortgage brokers who specialise in buy-to-let?

Yes, some brokers focus purely on buy-to-let (BTL) mortgages. It’s also important to remember that the buy-to-let niche is quite large and covers a wide scope. Although there are generic BTL brokers, you need an advisor who specialises in specific types of properties and clients if you want to ensure you get the best deal.

Did you know… You only have access to one third of the Buy-To-Let mortgages available unless you use a specialist broker!

Types of broker services available

Your circumstances and the rental property you’re looking to buy will make your situation unique, which is why it can be so useful to speak with a specialist advisor that suits your needs.

Here are a few examples of ways an expert buy-to-let mortgage broker can assist you:

• Bad credit: if you have bad credit, a specialist broker will be able to introduce you to the lenders who’ll still be willing to offer a mortgage. Taking this path means avoiding any unnecessary rejection or further marks on your credit file. Your broker will also be able to look at your credit reports and show you ways to improve your score.

• Complex income: if you’re self-employed or your income comes from multiple sources, many mainstream lenders won’t be comfortable taking all that into account. Personal income is not as crucial for buy-to-let mortgages as it is for residential. However, using an experienced BTL broker means introductions to lenders with the ability to stretch your income as far as possible so that you still end up with the best arrangement.

• Non-standard property: if the house you’re looking to buy has any unique features, it may be classed as a ‘non-standard construction’. This could put some lenders off, but a specialist BTL broker can introduce you to the lenders who would still be comfortable setting up this type of mortgage with attractive terms.

• Older borrowers: these days it’s possible to get a buy-to-let mortgage no matter what your age is. But, sometimes the lenders with no age limits, or the ones happy to lend to older borrowers won’t advertise this. The expert brokers we work with have direct relationships with lenders who offer specialist mortgage products aimed at those in later life, meaning you can still find a competitive BTL deal.

• Tenant types: your investment plans and the types of tenants you’re hoping to attract can make a difference to the way lenders view your application and the mortgage arrangement you need. If you want to use the property as a HMO, student let, for short-term or non-standard contracts, you’ll likely need to deal with a specialist BTL lender, and a skilled advisor is the best way to access them.

How to find a buy-to-let mortgage broker

Finding a specialist buy-to-let mortgage broker can be difficult, because home loans for rental properties may not be your area of expertise. To make your life easier, we offer a free broker-matching service to find you the right advisor for your specific circumstances.

Unfortunately, not every broker out there is of the same standard or offers exceptional assistance. But, the brokers we work with have all been independently assessed and hold industry recognised qualifications. This means you can be sure that you’re getting top-level service.

If you’d like to speak with a BTL mortgage expert, just make an enquiry. We’ll arrange a free, no obligation chat between you and your ideal broker today.

What fees will you pay?

The exact cost will vary between brokers, but for most, the fee can be in the region of £300-£600, or 0.35%-1% of the loan amount. However, the complexity of your BTL mortgage can also impact the cost.

If this sounds like a lot, it’s worth remembering that if you secure a great deal, the savings you’ll make will more than cover the cost of the broker. And, to make things more straightforward for you, when you use our services, all the brokers we work with use our ‘fair-fee policy’.

This means that you’ll only be charged a fee if they’re able to secure the buy-to-let mortgage you want. Or, if they ask for an upfront fee, it will be refunded if they can’t get your ideal BTL mortgage deal.

‘No fee’ and ‘fee-free’ buy-to-let mortgage brokers

You may come across some brokers that claim to have ‘no fees’ or that the services are free because they get paid a commission by the lender instead. Whilst this may seem attractive on the surface, it’s worth understanding how this works.

Because the fee comes from the lender, this means that finding you the best deal is not necessarily the priority. It’s often in a ‘no fee’ broker’s best interest to offer you a BTL mortgage product that benefits their real customer (the lender) who will pay them the highest commission.

As a result, you could end up with a smaller pool of lenders and not very competitive rates. So always make sure you think about the true cost and who will end up better off once everything is taken into account.

Do you need a broker if you’re a first-time buyer?

It’s not essential, but it’s highly recommended. As a first-time buyer on a BTL property (FTB), you’d likely find you only have a limited number of buy-to-let mortgage options to choose from. And, most will come with higher rates and deposit requirements. Using the services of a skilled broker means that you can still access the best deals available on the market as a FTB.

Experienced landlords

On the opposite end of the spectrum, specialist mortgage advice for experienced landlords is also extremely useful. Some BTL mortgage providers will have caps on how many properties you can have in your portfolio, and others will offer specific deals for experienced landlords. So, it’s well worth using a broker to introduce you to the right lenders.

Get matched with a specialist buy-to-let mortgage broker

Using a specialist broker to get you set up with a buy-to-let mortgage will save you plenty of time and energy. It’s also the surest way to make sure you get the best BTL mortgage deal for your specific circumstances.

Our free, broker-matching service means that we’ll quickly assess your needs, and then pair you up with an experienced broker.

If you’d like to speak to a skilled advisor who can arrange your ideal buy-to-let mortgage, just call 0808 189 2301 or make an enquiry. We’ll set up a free, no obligation chat today.