A buy to let mortgage is a mortgage or loan amount paid by investors and landlords. In this scenario, landlords buy a property on loan to rent it further to the tenants. However, the interest rate for buy to let mortgage is higher than a home mortgage.
On average, you need 25% buy to let mortgage deposits according to the property purchasing price. However, a few lenders also accept 20% mortgage deposits in London, UK.
Yes, you can live temporarily in your buy to let property. However, you must get consent from your property lender.
If you are financially strong and have a good portfolio as a landlord, you can have multiple buy to let mortgages. However, multiple buy to let mortgages also come with high risks and buy to let mortgage rates.
Yes, there are age limits for buy to let applicants in London, UK. Typically, the age limit for buy to let applicants is 18-75 years. However, these age brackets can vary according to each property lender’s requirements and specifications.