1st time buyer Buy-to-let mortgage

Pharmer

Quite simply, is there such a thing? Due to a lot of moving about until I can move back to hometown I'd like to start paying down a mortgage asap. I dream of a 90% BTL...any views?

holly_hobby

Higher BTL LTVs & First time landlord

The Mge Works @ 80% must be an owner occupier for min 6 mths
or 85% with Kensington - must have been an owner occupier for 12 mths.

No such thing as a 90% BTL in any event.

FTB and a BTL if there is any availability for such - the LTV will be much lower circa 65% I would think . An active mge broker on the forum will be able to tell you of any lenders in the FTB BTL market .- but I wouldn't get my hopes up .. and you def need a lot more than 10% deposit in any event

Hope this helps

Holly

Pharmer

holly_hobby wrote: »

Higher BTL LTVs & First time landlord

The Mge Works @ 80% must be an owner occupier for min 6 mths
or 85% with Kensington - must have been an owner occupier for 12 mths.

No such thing as a 90% BTL in any event.

FTB and a BTL if there is any availability for such - the LTV will be much lower circa 65% I would think . An active mge broker on the forum will be able to tell you of any lenders in the FTB BTL market .- but I wouldn't get my hopes up .. and you def need a lot more than 10% deposit in any event

Hope this helps

Holly

Thanks Holly. This sounds good. I've always got the possibility of allowing some family to stay in the house during this time of residency.

Senior_Paper_Monitor

Family not permitted by most lenders - want to see an Shorthold Tenancy in place.

FTB / First time landlord is possible but need to display good stable income, clean credit (includes steady residency, voters role etc) - max 75% from memory (certainly not higher).