I am planning on taking out the mortgage for the property I saw recently, and the thing is that I actually plan giving this property out to tenants and that is why I was advised to assess for the BTL mortgage but I am not sure how it does affect mortgage at all. So what do you thin about getting this BTL mortgage?
Well I bet you wont regret getting the BTL mortgage for they are actually created for those who are willing to let the property out to tenants or at least that is what statistic says about those frequent BTL mortgages during recent years. Anyway BTL wont affect mortgage that significantly except that you must count on somewhat higher rates of interest related to the products of BTL mortgage and you are also supposed to give a larger deposit that goes up to 20 or 25 of the propertys value.
