mortgage with little deposit

sam2009_2

We own a flat (mortgaged) and would like to buy a second one one. We can afford a repayment for a 200k mortgage even if the interest rate goes up. Will get some income from renting out the first property too. So will have no problem meeting the monthly payment on both properties. But the lenders aren't willing to gives us a mortgage with just 5% deposit.
Is there any mortgage companies out there do 95% mortgage?
We have already have a big unsecured loan so taking out another loan for the deposit is not an option.

please advise.

beecher2

What's your LTV on your existing property? Could you remortgage it to raise a further deposit?

Taking out a loan for a deposit isn't an option for anyone.

Yorkie1

Does your current flat lease permit sub-letting? If not, then that means your plan to rent it out is a non-starter.

sam2009_2

we don't really want to re-mortgage the current propert as the mortgage is very low (under 3%) on that at the moment plus not a lot of equity in there either.

we can sub-lett the flat, checked with them last week.