NI Buy to Let Mortgages

shaz77_2

I'm looking for a buy to let mortgage, the house it worth £68K and I want to borrow 48K, does anyone recommend and mortgage providers?

Northern have apparently pulled their buy to let mortgages and the type of mortgage I'm after is one that will allow overpayments.

mumoffour77

Mmmm did you try a mortgage advisor?
I think there is new rules coming in for the buy to let market.....I had a wee nosey at the minutes of the department for social and economic development earlier on today!!

x12yhp

There is a lot of change going on. There are quite a few good reasons underpinning the lack of these mortgages. Without meaning to sound rude - are you confident that you know what you are getting yourself into?

shaz77_2

I have one buy to let mortgage with £50K left to pay off on it, the house has been rented out since the time of the house purchase and the rent fully covers the mortgage payments.

I have been looking at Bank of Ireland and they certainly seem like a viable option.

36square

shaz77 wrote: »

... and the rent fully covers the mortgage payments.

But that's not the point. Are you getting a decent return on your equity in the property. It should be at the very least 3% net of expenses.

ram_murdock

I recently converted from normal mortgage to btl with First Trust. They provided a good interest rate and were v.helpful.