BTL is shorter for Buy to Let. It is the term related to mortgage. Buy to Let Mortgage defined when a lanlord do mortgage by buying property to rent it. It is kind of similar with the usual kind of mortgages but has a bit difference. The similarity is that all of the mortgages has the same term, making a loan from the lenders to buy the real estates. But, the goal of both mortgages makes it different. A mortgage is used by the common costumers who does not have enough money or even worst do not have money at all who want to have a real estate. Those real estates will be the collateral of the loan, later. In this case, the costumers want to own the real estate such as a house. Meanwhile, “buy-to-let mortgage” is used by the landlords (or just a commen person). The goal of it is for rent, not to own it. How to calculate Buy Let Mortgage? The costumers can use Buy to Let Mortgage Calculator as a helper.
Buy to Let Mortgage Calculator is a calculator which help the costumers to calculate the “buy to let mortgage.” There are quite aot websites related to mortgage that have Buy to Let Mortgage Calculator as one of its features. Some examples are https://mortgageadvisers.which.co.uk, https://www.santanderforintermediaries.co.uk, and https://www.landc.co.uk.
Here are the explanations of how to get those Buy to Let Mortgage Calculators. In Which? Mortgage Advisers site, find Calculator menu, and then click “Buy to Let Mortgage”. Fill the expected monthly rental income and property value on the columns. Then, click the calculate buttom with pink color. The calculator will let you to know the rough idea of how much money you could borrow from the lender.
The second one in Santander Buy to Let Mortgage Calculator. After being in the front of the Santander for Intermediaries website page, find “Calculators and forms.” Then, click Buy to Let Calculator. There, the costumers can find out how much the could borrow after filling three steps. The first one is Rent and Buy to Let Mortgage. Fill “gross monthly rent” and “property value” columns, click calculate. The second step is Monthly running costs. Follow the steps and you will get the results in the third step. The next website is London & Country. In the front of its official website, the costumers will find several menus. Find Buy to Let. It is the blue one beside Sign in. Click it and then you will see Buy to Let Calculator. There, fill all of the columns. It needs the information about your annual salary, your partner annual salary (if any), how much do you want to borrow, remaining mortgage term, and the rate. Fill all of them and click calculate. It will show you the explanation about it all. Study it all. If you still do not satisfy with all of those online Buy to Let Mortgage Calculators, go call their employees or visit their branches.