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Buy to Let highest Loan To Value
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LULULU1
Posts: 462 Forumite


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
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
0
Comments
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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.0 -
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.0
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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.IANAL etc.0
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