Looking For Buy To Let Mortgage

delb0y

Hi Folks anyone know of any good deals out there on these? I spoke to my bank today but they are asking 20% .. i heard a while back someone managed to get a buy to let for 10% down

thanks

nmiah786

delb0y wrote:

Hi Folks anyone know of any good deals out there on these? I spoke to my bank today but they are asking 20% .. i heard a while back someone managed to get a buy to let for 10% down

thanks

You should be able to get a BTL for 85% LTV in most cases.

I would also be interested in knowing if a 90% LTV scheme with 100% rental calculation product was available. :snow_laug

Testee

I've just taken a BTL with the Coventry but it was an 85% LTV and the rental requirement was 130%. I didn't come across anyone offering 90% LTV. However the Coventry seem to be offering the best combination I could find of fees and interest rates. I went to a broker to find the best deal and then found this one myself - the broker had to agree that I'd found a better deal than he had.

Did I feel smug or what!!

And the Coventry were super efficient with my application, within two weeks the survey had been done (free) and the mortgage offer arrived in the post. If only the solicitors could work as quickly.

herbiesjp

There are some BTL lenders that can look at 87% or even 89% mortgages.

The rental calculations are all different however, so you would need to look into these in more detail

kinster_2

Testee wrote:

I've just taken a BTL with the Coventry but it was an 85% LTV and the rental requirement was 130%. I didn't come across anyone offering 90% LTV. However the Coventry seem to be offering the best combination I could find of fees and interest rates. I went to a broker to find the best deal and then found this one myself - the broker had to agree that I'd found a better deal than he had.

Did I feel smug or what!!

And the Coventry were super efficient with my application, within two weeks the survey had been done (free) and the mortgage offer arrived in the post. If only the solicitors could work as quickly.

Hi there,

What kind of offer is this? Tracker, Fixed? Any redemption penalties?

cheers

delb0y

hi mate

can u mail or post the details of the lender

thanks

my bank is only offering 80% even tho i already have one BTL with them

Testee

The Coventry deal for Kinster and anyone else who's interested is available on a fixed or variable rate with a non-refundable booking fee of £250, arrangement fee of £475, telegraphic transfer fee of £25. There is no survey fee unless you want over and above the standard. There are no redemption penalties other than a final repayment fee of £195 but I think that's pretty standard across the board.

Check out the Coventry Building Society webpages for more info.

kinster_2

Testee wrote:

The Coventry deal for Kinster and anyone else who's interested is available on a fixed or variable rate with a non-refundable booking fee of £250, arrangement fee of £475, telegraphic transfer fee of £25. There is no survey fee unless you want over and above the standard. There are no redemption penalties other than a final repayment fee of £195 but I think that's pretty standard across the board.

Check out the Coventry Building Society webpages for more info.

yeah, I just saw that while searching on charcolonline and the CBS website. Flexi Fixed Rate looks very good. Even though the arrangement fee is £1k, maybe worth it as you know what you'll be paying for 4 years.

Thanks