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Recommended Buy to let mortgage?

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jolly9
jolly9 Posts: 5 Forumite
in House buying, renting & selling
Hi,
Does anyone know a good buy to let mortgage? Myself and my partner own a house which was bought on a regular mortgage (with NR). We have moved overseas as my partner took a new job. We want to remortgage, but as we are renting the house out need to go on to a buy to let mortgage.
Seems like most lenders require a 40% deposit which is a nightmare!!
If anyone knows of any lenders willing to lend more than 60% please let me know!!
Thank you!

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  • Fire_Fox
    Fire_Fox Posts: 26,026 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
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    Did you get the permission of the mortgage company to let the house?
    Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️
  • jolly9
    jolly9 Posts: 5 Forumite
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    I meant to say we will be renting the house out. Fire Fox do you recommend we explain our situation to NR (even though we actually feel NR are awful and want to leave!)

    If anyone knows of a good deal on a buy to let mortgage (that accepts foreign currency salary rather than sterling) I would love to hear from you!

    Thanks.
  • Fire_Fox
    Fire_Fox Posts: 26,026 Forumite
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    You don't have to explain you need to ask permission as it's more the bank's house than yours. Unfortunately some lenders will refuse, tho most seem willing to amend the terms for a modest fee. You also need a gas safety certificate, to inform your insurance providers and the inland revenue.
    Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️
  • gill78
    gill78 Posts: 2 Newbie
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    Lloyds TSB are offering a good rate with 75% LTV, not sure about the foriegn currency though.

    I'm thinking of renting my flat out (moving in with OH) but my mortgage company (ING) don't want to know so I need to switch. Now I'm just saving up £7k to make up the LTV (currently 82%).

    Good luck!
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    Take a look at BBC Teletext - Business - Loans

    This give you a pointer or two.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    jolly9 wrote: »
    If anyone knows of a good deal on a buy to let mortgage (that accepts foreign currency salary rather than sterling) I would love to hear from you!

    Thanks.

    Your liability will be in sterling. So do consider the exchange risk if you need to fund the mortgage at all.
  • jolly9
    jolly9 Posts: 5 Forumite
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    Thank you for all your replies!
    Lloyds do accept foreign currency, and have been helpful.
This discussion has been closed.
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