Am I eligable for a buy-to-let with defaults?

sparky23

Would I be able to get a buy-to-let mortgage with 2 credit defaults? They are up 0n 2012, 1 is for £500 and other £4000. I make regular payments and have kept to agreements.

I hold a current mortgage and have never defualted.

Also do you prive income with a buy to let? and is it a 20% deposit?

Thanks

luckyfool

Are they satisfied? With one of them being £4000 I suspect you are not going to get any joy without at least 25, if not 30% deposit. Depending on the lender some have a minimum earned income, and some will ask you to prove it.

sparky23

The payments are ongoing at present but have been kept up to date. I have a decent income but was just wondering what the process was. If a 25-30% deposit is required (bear with me here) if I was to find a property that was valued at more than I was to purchase it. That would then reduce the abount of dosh I would need to upfront?

Is there any particular type of mortgage broker I should talk to?

Thanks a lot for your help x

_Andy_

Sparky - the lender will use the purchase price to calculate the LTV