Buy-to-let mortgages with Mojo
We've partnered with an expert broker, Mojo Mortgages.
Just answer some questions about your situation and let Mojo's expert advisors guide you to a mortgage tailored to your needs. And the best part of it all is, it’s completely free (yes, really!).
With access to lenders across the whole of the market, Mojo advisors strive to save you money and find your best mortgage rate.
as of 12/12/2023
What costs are involved in a buy-to-let mortgage?
Monthly repayments - The interest rates and application fees are typically higher for a buy-to-let mortgage than standard residential mortgages. To keep business costs lower, landlords often use an interest-only mortgage to reduce their monthly repayments
Valuation and legal fees - like with any other mortgage, you need to pay these extra fees
Stamp duty - You typically pay more stamp duty on additional property purchases if you already own one - including your main home. The extra amount varies depending on which part of the UK you live in
Tax - Whether you’re an individual or a limited company, you pay tax on rental income. If you sell the property you also pay capital gains tax on profits
Insurance - Tenants usually pay contents insurance, but buildings insurance is the landlord's responsibility. It’s also a good idea to have landlord’s insurance, which covers mortgage payments when you have no tenants or tenants refusing to pay
Management fees - If you use a rental management or letting service, their fee is usually around 20-30% of your rental income
Maintenance - You're responsible for keeping the property in good repair and replacing broken fixtures and fittings
Safety compliance - You're responsible for ensuring safety regulations are met, like gas safety certificates and smoke alarms. Make sure to research landlord regulatory responsibilities
What our expert says
Mojo's customer says:
“Excellent advisers who took the time to provide me with all the options available to me”
MN - Mojo Mortgages customer (December 2023)
Learn about different mortgage types
are a type of loan used to buy a property. The mortgage is secured against the value of the property.
are where you only pay back the interest each month. When your mortgage term comes to an end, you still owe exactly what you borrowed at the start.
are for when your current mortgage deal comes to an end.
Tips & guides on buy-to-let mortgages
Mortgage overpayments are when you pay more than your normal monthly mortgage payment. This lets that you pay your mortgage off faster and you could pay less interest overall.
An early repayment charge, or ERC, is a fee that’s paid to your mortgage lender for paying off some types of mortgages early.
The Bank of England base rate can affect how much interest you pay on your mortgage. Here’s how it works.
Need more help?
There are certain tax benefits to operating your buy-to-let rental property or portfolio as a limited company. For example, independent landlords can’t claim mortgage interest against their tax return, but limited company landlords can.
It’s important to take advice from a qualified tax adviser, as the best plan for you will depend on your individual circumstances.
Yes, it’s usually possible to remortgage your residential mortgage to a buy-to-let one. If this is not possible with your existing lender, then other lenders may be able to help.
You’ll no longer be able to live in the property yourself if you change the mortgage to a buy-to-let, even temporarily.
It is possible, but you'll have a much harder time getting accepted for this than if you got a standard first-time buyer mortgage.
Most buy-to-let lenders prefer you to have had the experience of already owning a home before. But it's worth speaking to a mortgage broker, like Mojo Mortgages, who can help you find the best mortgage for you.
It's possible. If you’re a riskier borrower due to low income, poor credit, or the type of property you’re buying, you’re more likely to need a larger deposit (30-40%).
Mojo Mortgages can offer advice on what's right for your individual circumstances.
YOU SHOULD THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME/PROPERTY. YOUR HOME/PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
The Financial Conduct Authority does not regulate mortgages for commercial or investment buy-to-let properties.
Confused.com is not a mortgage intermediary and makes introductions to Mojo Mortgages to provide mortgage solutions.Confused.com and Mojo Mortgages are part of the same group of companies.
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Mojo is a trading style of Life's Great Limited which is registered in England and Wales (06246376). We are authorised and regulated by the Financial Conduct Authority and are on the Financial Services Register (478215). Mojo’s registered office is The Cooperage, 5 Copper Row, London, SE1 2LH, and head office is WeWork No. 1 Spinningfields, Quay Street, Manchester, M3 3JE.
To contact Mojo by phone, please call 0333 123 0012.