Buy to Let highest Loan To Value

LULULU1

Hi,

Doea anybody know who gives the best loan to value (ie the highest percentage %) for Buy to Let mortgages. Also any recommendations of good companies to use would be very grateful.

Many thanks in advance

Thrugelmir

Most BTL mortgages are on a 75% LTV although arrangement fees can be added.

Normal stipulation is that the rental income (on an unfurnished basis) must exceed 125% of the interest payable. This calculation of interest is based on the product rate, or sometimes a minimum of 5% (or whatever the lender sets), which ever is the higher.

mynameisdave

There are 80% LTV's available but any more than that and you'll really struggle to find anything. 100% days are long gone, doubt you'd even get 90%. 85%? Possible but could well have huge fees on it.

vectistim

I presume this would be your first time as a landlord, which can also have an effect, eg: from a cursory glance The Mortgage Works will go up to 80% for experienced landlords but only 75% for new ones, I would imagine other lenders might have similar differences between types of landlord.