Last reviewed on 16th February 2022
Use our buy to let mortgage calculator and check how much you can borrow and what your monthly cost would be.
You’ll be charged stamp duty land tax when buying a second property, such as a buy to let. Our calculator will work this out for you based on the property value.
How does this buy to let calculator determine how much I can borrow?
The amount you can borrow is calculated using the rental income of the property. This is because most buy to let lenders will assess the rental income of the property to determine the amount you’re able to borrow.
How does this calculate my monthly mortgage cost?
This calculates the cost of the mortgage by assessing the loan amount and the interest rate. Furthermore, the rate calculated is on an interest-only mortgage, as most buy to let mortgages are interest-only.
Will I need a large income for a buy to let mortgage?
Some buy to let lenders don’t have any income requirements. This means it’s possible to get a buy to let mortgage without having an income. This is because your buy to let will create an income and should be sufficient to cover your mortgage.
How much can I borrow for a buy to let mortgage?
Lenders will typically use your rental income to calculate how much you can borrow. Most lenders require rental income to be at least 125-145% of the mortgage.
Can I get a buy to let without a deposit?
No, it’s not possible to get a buy to let mortgage without a deposit.
How much deposit will I need for a buy to let mortgage?
The majority of lenders will require a 25% deposit as a minimum. That said, some lenders will accept 20% and in rare circumstances may even accept 15%. Saving a larger deposit is likely to unlock better mortgage rates.