Over the past few years (prior to the 'credit crunch') the strength of the UK property market and increasing purchase prices have not had a direct correlation with rental yields. Meaning that the buy-to-let investor has at times and more recently had to dig deeper for a larger deposit than the standard 15%. Ultimately a buy-to-let mortgage advance will be determined by rental income irrespective of who the property is let to i.e. professional, family, students, DHSS. Furthermore and perhaps as a sign of the times many mortgage brokers find themselves appealing against rental assessments and properties downvalued by valuers instructed by the lender. This is further compounded by the current decline in property prices.

With the valuation fee having been paid for up front by the applicant it can be frustrating for both broker and client to then find that the original loan amount is not available. It is then typically left to the mortgage broker to initiate a time consuming appeal usually taking the form of 3 comparable rental assessments from local letting agents with some lenders requiring these agents to be registered with ARLA (The Association of Residential Lettings Agents).

First mortgage Trust have designed a buy-to-let mortgage calculator that has a handful of top buy-to-let products embedded from a best buy-to-let table with 'handpicked' products from the UK buy-to-let mortgage market. Each product has the relevant rental assessment calculation expressed as a percentage. The product can be selected against the loan amount required and the rental cover selected to indicate whether the request for the mortgage advance is viable. It is assumed that any online client would have some knowledge of the rental required locally, however if the buy-to-let investor is to cast their net further afield the buy to let mortgage calculator will be a 'must have' in their arsenal of investment tools.