Buy to let mortgages costs

The costs associated with a Buy to Let mortgage are very similar to those associated with any other type of mortgage.

Deposit is the first consideration and by far the largest the amount of capital that you will need to find in the purchase process.

As a minimum a basic valuation of the property will be required, the valuer will assess the value of the actual building and also the level of rental income you can expect to achieve.

It is always advisable to have the highest level of property survey possible, particularly if the property is more than 10 years old and has no guarantee remaining against it.

Stamp duty where appropriate, and solicitor fees in all events will be incurred. The additional fees that Buy to Let mortgages usually carry are, a higher lender fee than a residential mortgage, either as a fixed amount or a percentage, and the broker fee for the advice and application handling. Lender fees should only become due at completion of your purchase, sometimes they are added to the mortgage amount. The broker fee will be payable upon receipt of your mortgage offer.