A Buy to Let mortgage is a loan secured against a property that is purchased with the intention of it being rented out to tenants.
Technically this is a commercial loan where the rental income that the property itself can generate is often taken into consideration by the lender when calculating your borrowing power.
There are many different schemes, each lender will follow a common thread when deciding how much you can borrow, but then apply these basics in completely different ways. This is the main reason that the services of an experienced mortgage broker are so important.
A Buy to Let mortgage does not allow the owner to reside in the property, in the same way that a residential mortgage does not allow you to rent your house to tenants. It is vital that you obtain the right mortgage that is fit for the purpose you need.