where to find a buy to let mortgage calculator

Buying a new property to let out is not like buying your own place to live in for yourself, you should always look for advice from an expert buy to let mortgage advisor to help you find your way through the maze of laws and rules that you will come across (or not come across if you have not done your homework and overlooked something!)

That being said, one of the first things you can do is look into how much you may be able to borrow with a buy to let mortgage calculator. Try several different ones to get a more accurate estimate and then you can go from there with the figures you have in making further decisions on your property investments.

While I am no expert on the buy to let area I have recently been looking into purchasing property myself for the purpose of letting it out and found a few different sources of calculators which readers here will hopefully also find useful.

Each source will give slightly different figures and base their results on slightly different inputs.

The first calculator is located at findaproperty.com, this is a very simple calculator which takes into account the value of the property along with the initial deposit amount.

Second up is alexanderhall.co.uk whose calculator will ask you to input the value of the property once again along with the monthly rent to be charged.

The final place I recommend and the one with the most advanced buy to let mortgage calculator of the three can be found at justmovein.net. This version will allow you to input the property value, interest rate and also the repayment period which you desire.

The reason I say it is a more advanced mortgage calculator is because the results on the final website come back to you in three different columns each showing you the results of the deposit required, mortgage amount required, monthly repayments and some other helpful fields which allow you to analyze how much interest you will be paying.

Each of the three columns deals with the figures relating to bank deposit requirements of 15%, 20% and 25% so you get to see multiple options at a glance which is faster for you and allows you to compare several options side by side.

Bear in mind that when you actually go to apply for your buy to let mortgage there will be many more factors taken into account other than the figures you have input into a calculator such as your credit rating, the location of the property and your own income level.

On top of any mortgage repayments you should make sure that you also take into consideration the other things which will leech at your money. Upkeep of the property and grounds will be a factor here as will any payments you make to letting agencies. Be sure to do your homework before you make any concrete plans. The last thing you want is to find yourself in a tighter spot financially than you had planned for, especially with something as long term as a mortgage.

As a final note, be aware that it is also possible to offset some of your expenses against taxes. Be sure to talk with a qualified consultant to find out exactly what can be done in this area to cut down on some of your costs.

If you have found this page in error while looking for a regular loan mortgage calculator you may want to try the bloomberg mortgage calculator which is a great source for a mortgage calculator amortization chart.