We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 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!
buy to let advice?
Options
Doglover88
Posts: 431 Forumite
just sold my first house and moved back in with parents and considering buy-to-let. can anyone point me in the right direction i.e. LTV? is it true i need at least 20% deposit? can i buy a house for myself a year down the line even tho i have a buy-to-let one as well? any basic help will be very much appreciated
cheers
glen bat
cheers
glen bat
0
Comments
-
With BTLs you can get away with a 15% deposit and sometimes a 13% deposit - what you have to make sure however is that the rental income will allow such a loan and the property type is OK with the lender.
Yes you can buy a property for yourself later, with the BTL in the background, as long as it is paying for itself. - i.e rental cover at least matches mortgage payment.I am a Mortgage AdviserYou 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 - Many lenders will ignore a self funding buy to let, although some don'tAny 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
- 351.1K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.2K Mortgages, Homes & Bills
- 177K Life & Family
- 257.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards