Buy to Let Mortgages in Stansted
Buy to let mortgage advice for landlords and investors in Stansted Mountfitchet, Birchanger, Elsenham and Takeley.
Rental income explained
How lenders test the rent against the mortgage
Personal or company
The options explained for both
One property or many
Help for landlords at every stage
Tenants around Stansted Mountfitchet may include people who work at the airport or commute by rail to London and Cambridge. A buy to let mortgage is assessed mainly on the rent the property could earn, and the deposit is normally larger than for a residential mortgage.
We explain how lenders look at buy to let, whether to buy personally or through a limited company, and what to prepare.
Buy to let in Stansted
Homes to let around Stansted include flats, terraced and semi-detached houses, and newer developments in the village and in Birchanger, Elsenham and Takeley. Lenders check that the expected rent exceeds the mortgage interest by a set margin, so the rent, the loan and the interest rate all affect what you can borrow. For flats, they also check the lease length and the service charge.
Tenants working at the airport may be on short-term or shift-based contracts, which can affect how long a tenancy lasts, so it helps to plan for gaps between lets. Homes under the flight paths can be affected by noise, and that is something a valuer may consider. If you plan to let to sharers, an HMO licence may be needed. Tell us what you have in mind and we can check which lenders may suit.
How it works
Initial conversation
We talk about your plans, your income and any properties you already own.
Your options explained
We explain the mortgages that may suit you, and what we would recommend.
Agreement in principle
A lender gives an early indication of what it may lend. This can involve a credit check.
Application
We help you complete the application and provide the documents the lender needs.
Valuation, legal work and offer
The lender values the property and your solicitor carries out the legal work.
Completion
Funds are released and the purchase completes.
For the full guide, see our Buy to Let page.
Frequently asked questions
Is there demand to rent near Stansted Airport?
Many people work at or near the airport, and good rail links help, but we cannot promise any particular level of rent or demand. We can show how lenders test the rent for the home you are considering.
Can I buy to let through a limited company near Stansted?
Yes, many landlords do, and a number of lenders offer it. It affects the rent test, the lenders open to you and your tax, so we recommend you also take tax advice.
How much deposit do I need for buy to let?
It depends on the lender, but deposits are usually larger than for a residential mortgage. We will look at your position and what is likely to be available.
Can I buy through a limited company?
Many lenders offer mortgages to limited companies, often with different criteria. We can explain what is involved and which lenders may be suitable.
Important information
- Most buy to let mortgages are not regulated by the Financial Conduct Authority.
- Your property may be repossessed if you do not keep up repayments on your mortgage.
- Rental income is not guaranteed, and tax treatment depends on your circumstances and may change. Please take advice from a qualified tax adviser.
The information on this page is general and is not advice. Advice depends on your personal circumstances.
Buy to Let in other areas
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