Whereas the amount you can borrow through a residential mortgage is determined by your salary and your outgoings, a buy-to-let-mortgage is assessed based on the rental income the property could generate.
So how do buy-to-let mortgages work? Typically, on an interest-only basis, lenders would require the property’s rental income to be at least 125% of the monthly mortgage payments. They may also require you to earn an income yourself.
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