Most of buy to let mortgages are interest only, which means you are only paying monthly mortgage interest. If you arrange interest-only mortgage then your monthly payments are lower than a repayment buy to let mortgage, but you will need to clear the loan at the end of the agreed period. If you are taking an interest only mortgage it is advised that you invest the income from the property to ensure you can pay the loan at the end of the period. Having an interest only mortgage can also reduce your costs whilst the property is empty.