We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
best buy to let mortgage
phill8282
Posts: 22 Forumite
I am looking to purchase my first property ,i am not a home owner, the property is round £90000 and would be looking to put down about £40000, which are currently the best and offering the cheapest rates.
Any info would be Appreciated
Any info would be Appreciated
0
Comments
-
phill8282 wrote:I am looking to purchase my first property ,i am not a home owner, the property is round £90000 and would be looking to put down about £40000, which are currently the best and offering the cheapest rates.
Any info would be Appreciated
Don't BTL mortgage lender usually stipulate that you must be an existing homeowner?Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery0 -
not necessarily no0
-
As stated above there are lenders who will let you purchase a buy to let property without having your own residential mortgage and some that will not do this. The key thing is differentiating between the two types. You should take a buy to let mortgage based on its functionality. i.e. a mortgage that matches your needs. Cheapest isnt always best. Have you considered using a broker to do this for you?I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
yes contacted one and said he would charge £199, not sure if thats is the going rate as i am just straring my research on the subject i am also considered a tracker mortgage, any views on that anyone
thanks phill0 -
Hi Phill
Some brokers will do it fee's free or take a small upfront fee and reinburse on completion. plenty of them about so look into finding yourself a decent broker. IMO with a BTL mortgage you need something that won't tie you in too long, if at all, and you also need a comparison of monthly payments v upfront/added fee's. Some lenders will insist you are employed and on a minimum salary to obtain a BTL as well so watch out for thisI am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thank you very much for the info0
-
no problem. feel free to click my thanks button!I am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards