Property investment continues to grow, and buy to let mortgages in Cambridge can help make it possible. If you’re considering becoming a landlord, understanding how these mortgages work can help you take the next step with confidence.
What Is a Buy to Let Mortgage in Cambridge?
A buy to let mortgage in Cambridge helps you buy a property to rent out.
Instead of focusing only on your income, lenders look at how much rent the property could bring in.
These mortgages usually need a bigger deposit and may have higher interest rates than standard residential ones.
With strong demand for rental homes in Cambridge, this option has become popular with both new and experienced landlords.
Can I Get a Buy to Let Mortgage in Cambridge?
Most lenders expect you to already own a property. Some may consider first-time buyers, but the conditions are often stricter.
You’ll usually need a steady income and a good credit score.
The rental income must cover the mortgage payments by a certain percentage, often between 125% and 145%. Lenders want to be sure you can manage the costs, even if the property is empty for a while.
How Does the Application Work?
Applying for a buy to let mortgage in Cambridge means sharing details about your finances.
Lenders check your income, credit history, and any other properties you own.
They also look at the rent the property could earn. Getting advice from a mortgage advisor in Cambridge can help you find lenders who offer suitable deals, especially if you are new to buy to let.
What Mortgage Types Are Available?
Landlords in Cambridge can choose between interest-only and repayment mortgages. Interest-only deals keep monthly costs lower, but you’ll need to pay off the full balance at the end of the term.
Repayment mortgages gradually clear the debt, so you own the property outright when the term ends.
You can also pick between fixed, tracker, and variable rates, depending on whether you want stable payments or flexibility.
Can I Remortgage a Buy to Let in Cambridge?
Many landlords remortgage buy to let properties in Cambridge to save money or raise funds. This can help you switch to a better rate or release equity for another purchase.
Lenders will check the property’s value and the rental income to make sure the mortgage remains affordable.
Can First-Time Buyers Get a Buy to Let Mortgage?
First-time buyers may find it harder to get a buy to let mortgage in Cambridge, but some lenders may still offer options.
A larger deposit and a strong income are usually required.
First-time landlords often need extra support, so working with a mortgage advisor in Cambridge can help you find the right deal.
Date Last Edited: March 4, 2025
