Buy to let mortgages in retirement.

If you are considering using part of your pension pot to invest in property, a competitive buy to let mortgage could enable you to become a landlord.

Before you take the plunge what do you need to know?

• Research the market

There are many types of mortgage on offer and it is vital to choose the one that is right for your investment needs.

If you are willing to take a risk for a lower rate a variable deal could be the one to choose. Or if you want to know what your repayments remain the same and that your rent will cover your mortgage, a fixed rate may be a better option.

• Work out your rental return.

Most lenders want rental income to be a minimum of 125% of mortgage repayments. Having chosen a property you need to work out what is the rent you are likely achieve, and whether this will more than cover the mortgage. If it will not then your application could be rejected.

• Offer as large a deposit as you can.

Lenders deposit levels for buy to let mortgages vary but generally 15% to 25% will be required to be accepted for a deal. Remember the larger your deposit the lower your rate.

• Shop around for the best offer.

To achieve the best rate you need to shop around. This is best done through independent 'whole of market' mortgage broker Deal Direct.

Buy to let mortgages through Deal Direct - What can we offer you?

• Independent expert advice based on your needs.
• Access to the cheapest rates.
• A whole market of search, we are not limited to specific lenders.

We work solely in your interest and NOT that of the lender. We dedicate our time to finding you be best deal available at the lowest rate.

Note:

• Not all buy to let mortgages are regulated by the FCA.
• Deal Direct is regulated to offer mortgage advice only. We cannot advise you as to the suitability of buy to let as an investment.