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100 % buy to let mortgages
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nichola1979_2
Posts: 3 Newbie
Hi All
Just wondering if anyone can help me ? Myself and husband are interested in buying a cheap house doing it up and renting it out. We are first time buyers with no deposit ideally we are looking for 100 % mortgage with buy to let does anyone know companys which do this type of thing with not alot of pitfalls ie tied in for 3 years plus, high rates etc please let me know if you do ta very much Nichola x:D
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No 100% BTL mortgages I'm afraidI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Thanks for getting back to me so quickly , just so annoyed now wanted so badly to get on that long ladder !! and have someone else pay the mortgage till we get a few things paid off !! oh well not to worry i suppose there is always the lottery lol ta x0
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For buy to let you are usually looking at a 15% deposit. However, you mention that the house is cheap; some lenders will lend you 85% of the PROJECTED value of the house after the work has been done. Try one of the buy to let specialists such as the Mortgage Centre who seem to have a far better understanding of the market than the generalist independant brokers that you might find in an estate agents.0
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There seems a lot of interest in BTL Today. Why?0
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The loonyasylum left it's doors open and they all escaped
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Someone once said to me that when fat bloke up the pub says something like "I'll tell you how to make money - get yerself a BTL", that's the time to get OUT of the BTL market.0
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