If you are thinking about buying a property to let out or remortgaging an existing buy to let property, it can be a helpful start to get an idea of the rent you could receive. Our rent calculator uses industry data to look at the typical rent you might expect from a property in a postcode.
Of course, the amount you’ll be able to let the property for depends on a number of factors including the type and location of your property, its condition and the demand for rental property in your area.
There are a number of criteria that must be taken in to account when calculating exactly. These could include but are not limited to:
Your monthly outgoings or regular commitments
Whether your income is a basic salary or includes bonus, commision or overtime
Whether you are self employed
The amount of deposit you have
Your age and whether you are borrowing past your retirement date
The lender however has the final input in to determining how much you can borrow. Each lender has their own criteria and as a broker we are perfectly placed to match you to the right lender for your borrowing requirements.
The calculators do not have the final say in how much you can borrw, your repayments etc., but this is where our expertise and experience in the field come in to play. We can sometimes make available a higher borrowing by taking your personal circumstances in to account.
*all potential borrowing is subject to affordability checks and credit status.
