buy to let ltv?

Euphoria1z

hi

just wondering what the current max ltv you can get for a buy to let?
can you still get 85% ? (its for a remortgage, not a new one).

or is it min 25% dep so 75% ltv?

thanks

herbiesjp

75% LTV will be the maximum

Euphoria1z

do we think 85% ltv on buy to lets will be back? albeit it may take a few years?

HelpWhereIcan

Euphoria1z wrote: »

do we think 85% ltv on buy to lets will be back? albeit it may take a few years?

Probably. However likely to be a few years.

Depending on the lender you are with you may find that they have a retention scheme and will be willing to offer you a new deal.

Bear in mind that the SVR/follow on rate may be better than anything else on the market at the moment - especially when you consider some of the horrendous fees that are being charged.

I have a couple of deals that will be going to BBR + 2.25% which gives a payrate of 3.25%. Most Buy to Let deals at the moment are at the mid to late fives fixed rates with fees of 2.5% - 3.5%.

Not really worth remortgaging unless I decide that I really want a fixed rate to protect me against the rises in rates that are bound to come.

RomansProperties

I personally think the max ltv on a buytolet should be 75% and any deals on 85%LTV's should be made part repayment until they get to 75%

I also have 5 fixed deals coming to an end between May and Sept and they are going to LIBOR plus between 1.5% and 2% so (2.06+1.5) and (2.06+2)
Worth staying on for a little while to see what happens

Radiantsoul

Euphoria1z wrote: »

do we think 85% ltv on buy to lets will be back? albeit it may take a few years?

It seems to me that the banks are taking quite a risk at that level. On a £150k property you could say in the event of a repo it will costs £5k in legal fees, £5k in selling & marketing fees and a £5k discount on the sale price of then the mortgage company will struggle to get its capital repaid. In practice these figures seem quite conservative and we now have two events in recent memory where prices collapsed by double digit amounts. I would say even 75% seems high without additional security.