BTL Mortgage - current rates?

[LDNrevs]

I have found a place that I really should buy; it's a bargain that will certainly weather the current storm, I'm sure. It's for investment and I'm currently looking at BTL mortgage rates... anyone know where the best deals might be?! I'm able to put a 40% deposit down if that makes any difference to the situation.

I'm looking for rates based on two options: a deposit of 40% and a deposit of 30% (if there's not much to be gained by way of monhly repayments then I'd prefer to put up a little less in the first place)

Any advice much appreciated.

[Davi]

LDNrevs said:

I have found a place that I really should buy; it's a bargain that will certainly weather the current storm, I'm sure. It's for investment and I'm currently looking at BTL mortgage rates... anyone know where the best deals might be?! I'm able to put a 40% deposit down if that makes any difference to the situation.

I'm looking for rates based on two options: a deposit of 40% and a deposit of 30% (if there's not much to be gained by way of monhly repayments then I'd prefer to put up a little less in the first place)

Any advice much appreciated.

Rates aren't going to differ that much with either 30 or 40% - depends what it is and your circs. as to the best rate you can get though - fixes are starting around 6.94% for 3 or 5.

PM me your number if you want a chat through.

[Ade355]

I thought 30% was pretty much the minimum for BTL at the moment, no? The mortgage valuer will also try to pull down the valuation as much as possible which might effect the size of your minimum deposit if there is a shortfall.

[Davi]

Ade355 said:

I thought 30% was pretty much the minimum for BTL at the moment, no? The mortgage valuer will also try to pull down the valuation as much as possible which might effect the size of your minimum deposit if there is a shortfall.

25% is pretty much the highest deposit amount that will afford you a rate discount - 15% or 20% deposit products are still available at a slight premium.