Residential Mortgage! With Permission To Let?

crewdy123

Hi there i have a problem! Im currently with A&L on a normal mortgage but have been given permission to let and that is what i am currently doing. However the rate has just come outa fixed deal on to SVR 7.19%. Still slightly cheaper than most buy to let deals but rubbish for normal mortgage. They also aint offering any good deals for existing customers.

Does anyone know any mortgage companys i can look at deals with on a normal mortgage that they will give me permission to let with? Or even if anyone knows any good buy to let deals let me know.

Thank you.

happybroker

you won't be able to switch to a residential mortgage if the property is let.

what's the property value, loan amount and monthly rental figure?

beecher

The trackers look okay

http://www.alliance-leicester.co.uk/mortgages/existing-customers-rates.aspx

crewdy123

Thanks for your replys. The trackers look good until you see 2% product fee. Ouch! Theyre just getting the money back for a low rate by charging a huge fee!Unless you got a small mortgage.

Property est 150k
Paid 143k a year ago (Probably use this figure)
7.19% sv 73k (no tie)
5.3% tracker 40k (no tie)
Monthly payement £780 (24 yrs remaining)
Rental income £650


Possibly could pay a bit off capital to get to 75% ltv. If there was a good deal to be had!

What ya reccon?