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What is different about a Buy-to-Let mortgage?

April 26, 2017buy-to-let different mortgage

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What is different about a Buy-to-Let mortgage?

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Before Buy-to-Let anyone borrowing to purchase a rental property had to take out a commercial mortgage which had quite a bit higher rate of interest than an ordinary domestic (owner occupier) mortgage. Lenders viewed residential letting as higher risk, so the lender paid more.