Buy to Let (BTL) mortgages are for buyers purchasing a property specifically for the purpose of renting it out. They are usually more expensive than residential mortgages and tend to be arranged on an interest only basis.

You’ll struggle to get a BTL mortgage if you don’t already own your own home, whether outright or with an outstanding mortgage.

Unlike obtaining a mortgage on a property you wish to live in, BTL mortgage lending is not regulated by the Financial Conduct Authority (FCA) unless you wish to let the property to a close family member (e.g. spouse, civil partner, child, grandparent, parent or sibling). This means that most BTL mortgages are unregulated.