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Switch between residential to BTL mtg?
ibz75
Posts: 117 Forumite
Hi all,
Does anybody know if its possible to switch from a residential mortgage to a BTL? Does the bank look at LTV/equity if you don't have enough deposit? Also, do they compare rental return to interest-only portion even if its a repayment. Might be considering this next summer.
Thanks
Does anybody know if its possible to switch from a residential mortgage to a BTL? Does the bank look at LTV/equity if you don't have enough deposit? Also, do they compare rental return to interest-only portion even if its a repayment. Might be considering this next summer.
Thanks
0
Comments
-
Only a few lenders doing BTL mortgages ( lots got fingers burnt)
Deposit of 25/30% and higher rates than residential plus set up fees
Rent must be at least 125% of interest only cost ( mortgage)0
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