A buy to let mortgage is a mortgage secured against a property that is rented out.

If you take out a buy to let mortgage you will be buying a property with a view to renting it out rather than living in it. Some people do this for a living, building up a portfolio of houses and flats to gain both an immediate rental income and a longer term investment. Others may use this route to invest a lump sum or to build up funds for later life by simply buying one property.

The property could be a House of Multiple Occupation (HMO). A house in multiple occupation (HMO) is a property that is occupied by a number of individuals who share facilities, or do not have exclusive occupation of the whole property.

HMO can generally be considered to comprise accommodation where two or more individuals share basic amenities. For example, HMO can commonly be occupied by a group of individuals (e.g. students, professionals etc) sharing a house or flat, individuals living in bedsit accommodation, and some properties converted into several flats.

Or you may rent out the property to one family on an assured short hold tenancy.

Mr Mortgages is acting as a credit broker in relation to Buy To Let mortgages.

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