How much can I borrow?
Our buy to let mortgage calculator will provide an estimate of how much you can borrow from a given monthly rent.
Enter the monthly rent and then choose either 5% or 5.5% for the stress test interest rate. The calculator assumes an Interest Cover Ratio of 125%.
Please remember that this is not an accurate quotation and figures must be used as a guide only. Your mortgage broker will be able to provide you with a personalised illustration.
What is the proposed monthly rent?
This is the gross monthly rental figure that you expect from your buy to let property.
What is a Stress Test Rate?
This is the interest rate used for the mortgage calculation. Lenders will stress test applications against rates of 5.0% or 5.5% to protect against future interest rate rises.
What is the Interest Cover Ratio?
Affordability for buy-to-let mortgages is typically assessed by using an interest coverage ratio (ICR). This is the ratio of gross rental income to mortgage interest repayments.
Lenders use 125%/145% calculated using a stressed interest rate (stressed ICR). A stressed ICR of 125% reflects the amount of gross rental income required for landlords to breakeven, factoring in the costs of mortgage repayments (including an increase in interest rates), tax and property maintenance. This calculator assumes an Interest Cover Ratio of 125%.
Not on the High Street!
The high street lenders can’t help every mortgage customer and they prefer the simple, low-risk ones.
If your situation is a bit different or needs a more personalised solution then our brokers can help.
Expert advice, for all situations.
Bridging Loans
The most flexible of secured loans and often misunderstood. Bridge loans can be used in so many different ways and can be arranged super fast.
Large Loans
High net worth mortgage brokers understand complex large loans and unique situations and can source bespoke deals from the right lenders.
Let to Buy
Let to buy combines a buy to let remortgage with a residential mortgage. Allowing you to move house while keeping your current home.
