Buy-to-let minimum income?

apple1976

I have a property currently let out on a non buy-to-let mortgage (used to live in the property and my existing lender allowed it to be rented on the same mortgage). The interest rate has recently gone up to 6.24% as my discount period has ended.

Can I get a better rate by remortgaging on a buy-to-let basis, and will anyone lend to me? The figures are:

annual income £20,000 but rising to about £22,000 soon
property value £200,000
mortage remaining £67,000
rental income £780 per month

thanks for any help, I can't seem to find anything useful on line yet!

nrsql

Yes you can do better than 6.24%
At £780 per month rent it shouldn't be a problem getting a buy to let mortgage to cover more than remaining.

>> I can't seem to find anything useful on line yet!
see
http://www.mortgages.co.uk/buy-to-let/index.html
http://www.moneyfacts.co.uk/mortgages/bestbuys/btl.aspx
http://www.moneysupermarket.com/moneydefault.asp?Source=GOOMORT12

just search for
buy to let mortgage
in google

herbiesjp

Based on that scenario, you will find the plenty of cheaper schemes out there for you