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Buy to Let Mortgages:
These types of mortgages are for clients wishing to purchase a property exclusively to Let and not reside in.
Again, many Lenders offer products particularly for this type of client and in most cases the lending is based on the potential rental income of a property. Normally the lender is looking for the client to be in some form of work, either employed or self-employed.
A deposit is always required and this can vary amongst lenders, although as a general rule the maximum lending is normally 85% of the lower of the purchase price or valuation.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The financial services authority do not regulate all forms of mortgages.