Is there a limit on the number of buy to let mortgages are you allowed? It looks like a good way to invest for the future but I was wondering about building up a portfolio of properties and how to finance that. I have inherited quite a large sum of money and want to start by buying three or four flats with a 25 per cent deposit on each one. Is it better to use one lender or a number of different lenders?
There is no limit on the number of buy to let mortgages you are allowed; however, some mortgage lenders impose limits on the number of mortgages you can have with them and sometimes on the number of mortgages you can have with other lenders. They do this to mitigate risk on property. Without knowing your circumstances and appetite for risk, it’s hard to say whether you should opt for one or multiple lenders. Before deciding whether to invest in buy to let, I recommend that you do lots of research to get an understanding of the market from all angles. If you’re still interested after that do get in touch.