This is a mortgage to buy a property that will be let, or rented out, to a tenant or tenants. There are various buy to let mortgages on the market, ranging from special offer deals from fixed and variable rate loans.

You will usually need to ensure that your rental income exceeds your mortgage payments by a set percentage and that the property is seen as a good long term investment. A buy to let mortgage is not regulated by the Financial Services Authority.

A buy to let mortgage is subject to different lending criteria to a mortgage on an individual's main residence. Interest rates are generally higher, as the loan is regarded as a riskier proposition to the lender; for example, the property owner is liable for the mortgage repayments even if the property is unoccupied or in times when rental payments do not equal the mortgage payment.

The value of property is generally a matter of opinion and not fact; the true value may not be recognised until it is sold.  It may be difficult to sell the property in adverse market conditions.  Selling an investment property can have tax implications; it is therefore best to seek legal and tax advice before purchasing and at the time you decide to try and sell.