Buy to let mortgages

[jinkster]

Without doing much research, what is the currently LTV on a buy to let mortgage?

Thanks.

[MitchT]

I'm not an expert but I do know that the most you'll be able to borrow is 75%

[Sarnie]

jinkster said:

Without doing much research, what is the currently LTV on a buy to let mortgage?

Thanks.

80% is possible but the rates and fee's will be eyewatering, best to aim for sub 75%..........

[cerberaperv]

If it`s your first the LTV will be 75% if you`ve got one already you can go to 80% with The Mortgage Works

http://www.themortgageworks.co.uk/products/buy-to-...

word of advice though, they`re crap! They take ages and abort last minute on the worst excuses I`ve ever heard. eg Private sales, deposit not been in buyers account long enough! etc etc

All this after you`ve paid for val and local searches.

[Sarnie]

cerberaperv said:

If it`s your first the LTV will be 75% if you`ve got one already you can go to 80% with The Mortgage Works

http://www.themortgageworks.co.uk/products/buy-to-...

word of advice though, they`re crap! They take ages and abort last minute on the worst excuses I`ve ever heard. eg Private sales, deposit not been in buyers account long enough! etc etc

All this after you`ve paid for val and local searches.

There are others at 80% with less fee's and better rates than TMW

[cerberaperv]

Sarnie said:

There are others at 80% with less fee's and better rates than TMW

Agreed. Most use TMW as they don`t (always) require proof of income. As I`ve just found out the OP is an airline pilot, he`ll have no problem with this.

Jinkster, I`m sure Sarnie will give you better advice than myself as I`m only in the BMV sales industry, where as he`s a broker. ;-)

[jinkster]

My salary is good - deposit not so good. Would a personal loan be allowed for a deposit for a BTL mortgage?

[Sarnie]

jinkster said:

My salary is good - deposit not so good. Would a personal loan be allowed for a deposit for a BTL mortgage?

As long as it didn't adversely affect your affordability, it would be fine....