When taking out a buy to let mortgage, lenders will typically require at least 25% of the purchase price as a deposit. Interest rates tend to be higher than those on regular mortgages due to the higher risk associated with rental properties. The interest rate is also likely to be affected by factors such as your credit history, personal financial stability and experience in managing rental properties. Generally speaking, larger deposits and better credit ratings will result in lower interest rates.

In terms of repayment periods, most buy-to-let mortgages are interest-only loans - meaning that instead of paying off both capital and interest over time, you only pay off the interest each month for the duration of the loan period; once this has ended then you must repay all remaining capital as well as any accrued interest in one final payment. In some cases lenders may allow you to switch from interest only payments and convert into repayment mortgages part way through your agreement but this usually comes with additional charges so should not be entered into lightly.