recommendations for BTL mortgage?

de1amo

i know its terribly unfashionable but i am looking for a recommendation of a good BTL lender. the figures are all comfortable and the margins are good so i hope to be in a good position!

GMS

BTL mortgages vary wildly.

What kind of percentage deposit do you have?

Some lender rates are low but set up fees are huge. Often a higher rate is a better option overall

de1amo

property is conservatively valued at 175k(2 other flats in the block have sold for that this year)-the rental value is around 775 pcm--i am looking to lend about 95k.-i have a good mortgage on it for 55k but need to raise 40k for a project abroad and BTL seems the only way to do. my current lender sadly wont extend

Thrugelmir

Have you now let the property? It was empty not so long ago.

de1amo

i am going to let it when i get back home in the summer--i have another home in view out here which i will rent out to in laws!

Conrad

Ipswich Building Society are great. No income checks. Proper old fashioned real Human service. Much lower fees than TMW et al.
They lend in certain geographic locations - call em now, it's nearly 5pm!

de1amo

the ipswich looks a fair deal--i cant see if there are fees on there BTL's --doesnt seem i can access them by mail--i am not in the uk at the moment but want to start the ball rolling for when i get home.--cant ring 0845 numbers!!--it offering 4,99pc going onto 5,49 svr after 2 years --i am expecting 4,5 to 5pc but dont want high fees. also it says about rental assurance to 125pc --what type of cost does that assurance cost or is it just assurance as in guaranteed rental quotation?