Buy to Let Mortgage - 20% Deposit?

liverpoolguy

Other than The Yorkshire Building Society / Clydesdale Bank, does anyone know of anywhere else that is currently offering Buy to Let Mortgages with just 20% deposit??

All help much appreciated but please don't advise me to see a broker as I've made an appointment and am just trying to do some research in advance of this.

cashbackproblems

Do what alot of landlords do and get a residential mortgage and rent it out, i know a landlord whos been doing this for 20 years and made millions (literally as he bought in london), most letting agents wont ask for consent to let proof especially the smaller ones.

liverpoolguy

I thought u could only have one residential mortgage?

brit1234

cashbackproblems wrote: »

Do what alot of landlords do and get a residential mortgage and rent it out, i know a landlord whos been doing this for 20 years and made millions (literally as he bought in london), most letting agents wont ask for consent to let proof especially the smaller ones.

Thats great, yes lets encourage readers to commit mortgage fraud.

Its a good job people are now being increasingly prosecuted for this type of thing.

I would advise anyone against this posters advise and would go further and encourage people witnessing this to report them to the lender or police.

cashbackproblems

Trollfever

cashbackproblems wrote: »

Do what alot of landlords do and get a residential mortgage and rent it out, i know a landlord whos been doing this for 20 years and made millions (literally as he bought in london), most letting agents wont ask for consent to let proof especially the smaller ones.

What about the security of tenure for hard working families and their children?

http://forums.moneysavingexpert.com/showthread.html?t=1377883



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pararct

There was something in the Telegraph in the last couple of weeks that suggested HMRC will be cracking down on this immediatley after the election....

They know who these people are from the land registry information and will be going after them for unpaid taxes....

Better them than me Every little helps as they say......

cashbackproblems

liverpoolguy wrote: »

I thought u could only have one residential mortgage?

Nope you can have as many residential mortgages as you can afford, subject to the lenders being satisfied with the credit checks, how else do you think mp's have "second" homes!?

And i merely said i know alot of people doing this (not whether its right or wrong) and also declaring their income in their tax returns, ulitmately its down to you but landlords make huge sums doing this which is why you see them driving around in new mercs/bmw's!

cashbackproblems

pararct wrote: »

There was something in the Telegraph in the last couple of weeks that suggested HMRC will be cracking down on this immediatley after the election....

They know who these people are from the land registry information and will be going after them for unpaid taxes....

Better them than me Every little helps as they say......

Well thye havent been doing a very good job over the last 20yrs and from the land registry how are they supposed to know if the properties being rented. The only way of finding out is if the tenants check the registry.

brit1234

cashbackproblems wrote: »

Well thye havent been doing a very good job over the last 20yrs and from the land registry how are they supposed to know if the properties being rented. The only way of finding out is if the tenants check the registry.

We are not talking about 20 years ago we are talking about this year. Things have changed and enforcement has started now.

Why are you talking up criminal activity and then bragging about the so called ill gotten gains it provides?

I like to say your advise is wrong, dangerous and not appropriate for this forum. Try posting here instead:

http://criminalscams/forum.co.uk

VIGILANT22

pararct There was something in the Telegraph in the last couple of weeks that suggested HMRC will be cracking down on this immediatley after the election....

Suspected buy-to-let investors/ tax-dodging "ghost" landlords

You're a 100%, I actually bookmarked this for the simple reason... when you share this with people they are think you're scaremongering or making it up..


http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/2787106/Taxman-targets-landlords.html