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Mortgage Calculator: How much rent should I charge?

The calculator will help you work out the minimum rent you should be charging your tenants in order to cover your mortgage costs. If the rental payments are too high and you are unlikely to find tenants then you are paying too much for the property.

Purchase price of property

 

Amount of your deposit / equity (minimum 15% = £)

 

In order to borrow £ on a property worth £ you will need rental income of at least £ per month.

A lender will require you have a deposit of at least 15% on a buy to let mortgage, please increase your deposit to at least £

Popular Fixed Rate Mortgages

Lender
Mortgage Name
Type
Initial Rate
Offer
Subsequent Rate
Cost for Comparison
Loan to Value
Fees
Get Quote
View Full Table >
TSB Direct 2 Year Fixed £995 Fee Purchase
Fixed
1.29%
Fixed until 30/04/2019
3.74% (variable)
3.50%
60%
£995
Call Direct0808 252 0479 Enquire
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage NO
First Time Buyers YES
Home Movers NO
Minimum Deposit 40%
Max Mortgage Amount £1,000,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan without conditions
Early Repayment Charge 3.00% of loan amount redeemed to be paid until 30-Apr-2018; then 1.00% of loan amount redeemed to be paid until 30-Apr-2019
Royal Bank Of Scotland Direct 2 Year Fixed £995 Fee Io Purchase
Fixed
1.41%
Fixed until 31/08/2019
3.75% (variable)
3.50%
60%
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage NO
First Time Buyers YES
Home Movers NO
Minimum Deposit 40%
Max Mortgage Amount £2,000,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan without conditions
Early Repayment Charge 2.00% of loan amount redeemed to be paid until 31-Aug-2018; then 1.00% of loan amount redeemed to be paid until 31-Aug-2019
NatWest Direct 2 Year Fixed £995 Fee Io Purchase
Fixed
1.41%
Fixed until 31/08/2019
3.75% (variable)
3.50%
60%
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage NO
First Time Buyers YES
Home Movers NO
Minimum Deposit 40%
Max Mortgage Amount £2,000,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan provided normal lending limits are met
Early Repayment Charge 2.00% of loan amount redeemed to be paid until 31-Aug-2018; then 1.00% of loan amount redeemed to be paid until 31-Aug-2019
NatWest Direct 2 Year Fixed £995 Fee Io Purchase
Fixed
1.42%
Fixed until 31/08/2019
3.75% (variable)
3.50%
75%
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage NO
First Time Buyers YES
Home Movers NO
Minimum Deposit 25%
Max Mortgage Amount £2,000,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan provided normal lending limits are met
Early Repayment Charge 2.00% of loan amount redeemed to be paid until 31-Aug-2018; then 1.00% of loan amount redeemed to be paid until 31-Aug-2019

Popular Tracker Mortgages

Lender
Mortgage Name
Type
Initial Rate
Offer
Subsequent Rate
Cost for Comparison
Loan to Value
Fees
Get Quote
View Full Table >
TSB Direct 2 Year Tracker £995 Fee Remortgage
Tracker
1.19%
0.69% above Bank of England base rate
3.74% (variable)
3.40%
60%
£1,995
Call Direct0808 252 0479 Enquire
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage YES
First Time Buyers NO
Home Movers NO
Minimum Deposit 40%
Max Mortgage Amount £1,000,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan without conditions
Early Repayment Charge 3.00% of loan amount redeemed to be paid until 30-Apr-2018; then 1.00% of loan amount redeemed to be paid until 30-Apr-2019
Royal Bank Of Scotland Direct 2 Year Tracker £995 Fee
Tracker
1.59%
1.09% above Bank of England base rate
3.75% (variable)
3.80%
60%
£995
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage YES
First Time Buyers YES
Home Movers NO
Minimum Deposit 40%
Max Mortgage Amount £2,000,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan without conditions
Early Repayment Charge 1.00% of loan amount redeemed to be paid until 31-Aug-2018; then 0.50% of loan amount redeemed to be paid until 31-Aug-2019
NatWest Direct 2 Year Tracker £995 Fee Existing Borrower
Tracker
1.59%
1.09% above Bank of England base rate
3.75% (variable)
3.80%
60%
£1,495
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage YES
First Time Buyers NO
Home Movers NO
Minimum Deposit 40%
Max Mortgage Amount £2,000,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan provided normal lending limits are met
Early Repayment Charge 1.00% of loan amount redeemed to be paid until 31-Aug-2018; then 0.50% of loan amount redeemed to be paid until 31-Aug-2019
Royal Bank Of Scotland Direct 2 Year Tracker £995 Fee
Tracker
1.79%
1.29% above Bank of England base rate
3.75% (variable)
3.80%
70%
£995
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage YES
First Time Buyers YES
Home Movers NO
Minimum Deposit 30%
Max Mortgage Amount £2,000,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee cannot be added to loan
Early Repayment Charge 1.00% of loan amount redeemed to be paid until 31-Aug-2018; then 0.50% of loan amount redeemed to be paid until 31-Aug-2019
NatWest Direct 2 Year Tracker £995 Fee Io Purchase
Tracker
1.79%
1.29% above Bank of England base rate
3.75% (variable)
3.90%
70%
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage NO
First Time Buyers YES
Home Movers NO
Minimum Deposit 30%
Max Mortgage Amount £2,000,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan provided normal lending limits are met
Early Repayment Charge 1.00% of loan amount redeemed to be paid until 31-Aug-2018; then 0.50% of loan amount redeemed to be paid until 31-Aug-2019

Popular Remortgages

Lender
Mortgage Name
Type
Initial Rate
Offer
Subsequent Rate
Cost for Comparison
Loan to Value
Fees
Get Quote
View Full Table >
NatWest Direct 2 Year Tracker £995 Fee Remortgage
Tracker
1.59%
1.09% above Bank of England base rate
3.75% (variable)
3.70%
60%
£1,495
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage YES
First Time Buyers NO
Home Movers NO
Minimum Deposit 40%
Max Mortgage Amount £2,000,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan provided normal lending limits are met
Early Repayment Charge 1.00% of loan amount redeemed to be paid until 31-Aug-2018; then 0.50% of loan amount redeemed to be paid until 31-Aug-2019
NatWest Direct 2 Year Fixed £995 Fee Io Remortgage
Fixed
1.80%
Fixed until 31/08/2019
3.75% (variable)
3.60%
60%
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage YES
First Time Buyers NO
Home Movers NO
Minimum Deposit 40%
Max Mortgage Amount £2,000,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan provided normal lending limits are met
Early Repayment Charge 2.00% of loan amount redeemed to be paid until 31-Aug-2018; then 1.00% of loan amount redeemed to be paid until 31-Aug-2019

Popular Offset Mortgages

Lender
Mortgage Name
Type
Initial Rate
Offer
Subsequent Rate
Cost for Comparison
Loan to Value
Fees
Get Quote
View Full Table >
NatWest Direct Offset Term Flexible £499 Fee Remortgage
Tracker
4%
3.5% above Bank of England base rate
3.75% (variable)
3.80%
80%
£499
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage YES
First Time Buyers NO
Home Movers NO
Minimum Deposit 20%
Max Mortgage Amount £1,000,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan provided normal lending limits are met
Early Repayment Charge
NatWest Direct Offset Term Flexible £499 Fee Purchase
Tracker
4%
3.5% above Bank of England base rate
3.75% (variable)
3.70%
80%
£499
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage NO
First Time Buyers YES
Home Movers NO
Minimum Deposit 20%
Max Mortgage Amount £1,000,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan provided normal lending limits are met
Early Repayment Charge

Popular First Time Buyer Mortgages

Lender
Mortgage Name
Type
Initial Rate
Offer
Subsequent Rate
Cost for Comparison
Loan to Value
Fees
Get Quote
View Full Table >
Royal Bank Of Scotland Direct Ftb 2 Year Fixed No Fee
Fixed
2.31%
Fixed until 31/08/2019
3.75% (variable)
3.60%
80%
No Application Fee
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage NO
First Time Buyers YES
Home Movers NO
Minimum Deposit 20%
Max Mortgage Amount £1,000,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee cannot be added to loan
Early Repayment Charge 2.00% of loan amount redeemed to be paid until 31-Aug-2018; then 1.00% of loan amount redeemed to be paid until 31-Aug-2019
NatWest Direct Ftb 2 Year Fixed No Fee
Fixed
2.31%
Fixed until 31/08/2019
3.75% (variable)
3.60%
80%
No Application Fee
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage NO
First Time Buyers YES
Home Movers NO
Minimum Deposit 20%
Max Mortgage Amount £1,000,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan provided normal lending limits are met
Early Repayment Charge 2.00% of loan amount redeemed to be paid until 31-Aug-2018; then 1.00% of loan amount redeemed to be paid until 31-Aug-2019
Royal Bank Of Scotland Direct Ftb 2 Year Fixed No Fee
Fixed
2.87%
Fixed until 31/08/2019
3.75% (variable)
3.70%
90%
No Application Fee
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage NO
First Time Buyers YES
Home Movers NO
Minimum Deposit 10%
Max Mortgage Amount £550,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee cannot be added to loan
Early Repayment Charge 2.00% of loan amount redeemed to be paid until 31-Aug-2018; then 1.00% of loan amount redeemed to be paid until 31-Aug-2019
NatWest Direct Ftb 5 Year Fixed No Fee
Fixed
3.57%
Fixed until 31/08/2022
3.75% (variable)
3.90%
85%
No Application Fee
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage NO
First Time Buyers YES
Home Movers NO
Minimum Deposit 15%
Max Mortgage Amount £1,000,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan provided normal lending limits are met
Early Repayment Charge 5.00% of loan amount redeemed to be paid until 31-Aug-2018; then 4.00% of loan amount redeemed to be paid until 31-Aug-2019; then 3.00% of loan amount redeemed to be paid until 31-Aug-2020; then 2.00% of loan amount redeemed to be paid until 31-Aug-2021; then 1.00% of loan amount redeemed to be paid until 31-Aug-2022
TSB Direct 2 Year Fixed £995 Fee Purchase
Fixed
3.58%
Fixed until 30/04/2019
3.74% (variable)
3.90%
95%
Call Direct0808 252 0479 Enquire
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage NO
First Time Buyers YES
Home Movers NO
Minimum Deposit 5%
Max Mortgage Amount £250,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee cannot be added to loan
Early Repayment Charge 3.00% of loan amount redeemed to be paid until 30-Apr-2018; then 1.00% of loan amount redeemed to be paid until 30-Apr-2019

Popular Buy to Let Mortgages

Lender
Mortgage Name
Type
Initial Rate
Offer
Subsequent Rate
Cost for Comparison
Loan to Value
Fees
Get Quote
View Full Table >
Royal Bank Of Scotland Direct Btl 2 Year Tracker £1995 Fee
Tracker
1.88%
1.38% above Bank of England base rate
3.75% (variable)
4%
60%
£1,995
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage YES
First Time Buyers YES
Home Movers NO
Minimum Deposit 40%
Max Mortgage Amount £3,500,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan without conditions
Early Repayment Charge 1.00% of loan amount redeemed to be paid until 31-Aug-2018; then 0.50% of loan amount redeemed to be paid until 31-Aug-2019
NatWest Direct Btl 2 Year Tracker £1995 Fee Purchase
Tracker
1.88%
1.38% above Bank of England base rate
4.25% (variable)
4.40%
60%
£1,995
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage NO
First Time Buyers YES
Home Movers NO
Minimum Deposit 40%
Max Mortgage Amount £3,500,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan provided normal lending limits are met
Early Repayment Charge 1.00% of loan amount redeemed to be paid until 31-Aug-2018; then 0.50% of loan amount redeemed to be paid until 31-Aug-2019
Royal Bank Of Scotland Direct Btl 2 Year Fixed £1995 Fee Purchase
Fixed
1.95%
Fixed until 31/08/2019
3.75% (variable)
3.90%
60%
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage NO
First Time Buyers YES
Home Movers NO
Minimum Deposit 40%
Max Mortgage Amount £3,500,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan without conditions
Early Repayment Charge 2.00% of loan amount redeemed to be paid until 31-Aug-2018; then 1.00% of loan amount redeemed to be paid until 31-Aug-2019
Royal Bank Of Scotland Direct Btl 2 Year Fixed £1995 Fee Remortgage
Fixed
1.99%
Fixed until 31/08/2019
3.75% (variable)
3.90%
60%
£1,995
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage YES
First Time Buyers YES
Home Movers NO
Minimum Deposit 40%
Max Mortgage Amount £3,500,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan without conditions
Early Repayment Charge 2.00% of loan amount redeemed to be paid until 31-Aug-2018; then 1.00% of loan amount redeemed to be paid until 31-Aug-2019
TSB Direct Btl 3 Year Fixed £995 Fee Purchase
Fixed
2.44%
Fixed until 31/05/2020
4.59% (variable)
4.20%
60%
Call Direct0808 252 0479 Enquire
[+] View More
Application Criteria Fees and Charges
Existing Customers Only NO
Existing Borrowers Only NO
Remortgage NO
First Time Buyers NO
Home Movers NO
Minimum Deposit 40%
Max Mortgage Amount £1,000,000
Shared Ownership NO
Overpayments? YES
App Fee - Application Fee can be added to loan without conditions
Early Repayment Charge 3.00% of loan amount redeemed to be paid until 31-May-2019; then 1.00% of loan amount redeemed to be paid until 31-May-2020

Your home may be repossessed if you do not keep up repayments on your mortgage. The rates and products displayed within these tables are updated on a regular basis however due to the dynamic nature of the market some product details and rates may be out of date. We therefore do not take any responsibility for the accuracy of the information supplied within the table although we will always make our best endeavour to ensure that the information provided is as accurate as possible. You should always check rates and terms with the product provider. The telephone-based mortgage advice service is provided by TurnKey Mortgages Limited. Registered office: St Crispins House, Duke Street, Norwich NR3 1PD. TurnKey Mortgages Limited are authorised and regulated by the Financial Conduct Authority. Their FCA number is 537424.


How much rent should I charge?

What might determine the amount of rent you need to charge?

Size of the Loan

The amount you can borrow is normally linked to the rental income you expect to receive, though lenders often expect rental income to exceed the mortgage payment by a about a quarter to account for the extra costs involved with letting, including insurance, maintenance, agent fees, and periods of vacancy between tenants.

Property Type and Area

You need to find the right balance when setting the level of rent on your property. If you set the rent amount too low, you are unlikely to maximise the investment on the property. Setting the level too high, on the other hand, risks pricing yourself out of the market and leaving the property untenanted.

As always, we recommend that you seek professional advice if you are unsure which type of mortgage is right for you and that all of the information provided above is for use as an overview only and should not be the basis for your mortgage decision.