buy to let mortgage - minimum deposit expected?

Conrad

Putting the OP to one side, lots of people buy homes to live in and then change thier minds / job relocates etc, and most lenders are reasonable about letting.

Nationwide, that paragon of lending virtue, that most conservative of organisations tends to give consent in most instances.

Many A Cambridge academic buys, in full knowledge his research grant may not be renewed and will have to relocate or go on a sabatical aboroad and very often the proprty is then let as there is a high chance they will return.

The green ink brigade need to calm down. Ministers stretch expense and second honme allowances to the max, so who exactly are these 'authorities' the green ink brigade talk of? I know FSA staff that rip the @rse out of expenses.

socrates

Conrad wrote: »

Putting the OP to one side, lots of people buy homes to live in and then change thier minds / job relocates etc, and most lenders are reasonable about letting.

Nationwide, that paragon of lending virtue, that most conservative of organisations tends to give consent in most instances.

Many A Cambridge academic buys, in full knowledge his research grant may not be renewed and will have to relocate or go on a sabatical aboroad and very often the proprty is then let as there is a high chance they will return.

The green ink brigade need to calm down. Ministers stretch expense and second honme allowances to the max, so who exactly are these 'authorities' the green ink brigade talk of? I know FSA staff that rip the @rse out of expenses.

Yes but its some way down the line - not from the outset.

The other poster if you read the thread properly says - that you can apply for a 'normal mortgage' and then let the property out all in swoop. Avoiding BTL criteria and expenses.

As to what people get away with and do - the penalty is a slap on the wrists.

What would happen to someone who lied on their mortgage application and was caught?

I am sure they would not get the same treatment as an MP or a Company Exec