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Buy to let mortgage calculator

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By Pete Mugleston  | Mortgage Advisor Pete has been a mortgage advisor for over 10 years, and is regularly cited in both trade and national press.

Updated: 6th May 2020 *

Welcome to the ultimate buy to let calculator.

Play around with some quick numbers below or Jump to our calculator journey to establish what you can afford, the costs and which of the best deals you'll qualify for.

It will give you approximate figures for the most you can borrow based on your property value, based on your rental income, and what rental income you need to borrow the mortgage you want. This calculator is just for indicative purposes based on how most lenders can calculate their lending and affordability - the actual amount you can borrow will only ever be confirmed once you approach a lender formally and go through their credit scoring systems. Therefore, bear in mind that these are rough estimates only and this should not be construed as advice.

Note: This calculator may not be suitable for portfolio landlords of more than 4 properties given the PRA changes to how these mortgages are assessed. New calculators for this are ULTRA complex and currently being worked on by people far more clever than me! As soon as we have hold of a decent one we'll post it here.

To get an accurate borrowing limit, to have an advisor arrange an official mortgage in principle, or to ask us anything at all, make an enquiry below and we'll introduce you to an expert advisor.

How much can I borrow for a buy to let mortgage?

This will largely be determined by the viability of the investment. Most lenders will expect the forecast rental income to cover between 125-145% of the mortgage payments.

You can read more about this in our guide to buy to let mortgage affordability.

Are buy to let mortgages more expensive?

They are typically around one percentage pointer higher than residential mortgages in terms of the interest rates, as most lenders view them as higher risk. They also come with higher deposit requirements.

It's also important to factor in any additional costs and fees when calculating your buy to let borrowing potential. You can find out more in our guide to buy to let mortgage fees.

How much deposit do you need for a buy to let?

After performing some calculations using the online tool above, perhaps you're keen to find out how much deposit you'll need?

Well, most buy to let mortgage lenders ask for more deposit that residential providers - around 25% is typical, although it may be possible to find a lender with a higher appetite for risk who accepts as low as 15%.

You can read more in our buy to let mortgage deposit requirements article.

Jump to our calculator journey to establish what you can afford, the costs and which of the best deals you'll qualify for.

Updated: 6th May 2020
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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.

Find out more about how we help people get buy to let mortgages.

Buy To Let Mortgages

Buy To Let Mortgage Information

Looking for specialist advice? Read through our articles about different types of buy to let situations, and how best to prepare yourself to find the right mortgage for you