Is it cheaper to get a buy to let mortgage

[lucielou82]

I had plan to sell my flat last year, but this didn't happen. Because of my current circumstances I had to rent it out... I got permission to rent from my current lender but my deal runs out in January and I'll have to swap to a buy to let mortgage. Excuse my ignorance, but will I end up paying much more on a buy to let mortgage? Ideally I want to pay less in the current climate (though I was on a really low rate so date that would happen anyway).

Buy to let mortgages tend to be higher interest rates than residential mortgages. So you will likely being paying more each month and paying off less of your mortgage so double whammy.

@buckingmad oh joy!

Talk to a mortgage broker.
You could get an interest only buy to let mortgage which would mean your payments are lower because you are not paying anything off the capital.