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85% BTL possible on ex local authority flat

grey_lady
grey_lady Posts: 1,047 Forumite
in Mortgages & endowments
Does anyone know if it's currently possible to get an 85% BTL mortgage on an ex local auth flat?

Thanks
Snootchie Bootchies!

Comments

  • betmunch
    betmunch Posts: 3,126 Forumite
    Its not I'm afraid.

    Sorry its not the news you want :(
    I am a Mortgage Adviser
    You 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.
  • grey_lady
    grey_lady Posts: 1,047 Forumite
    Thanks betmunch do you happen to know if 75% is possible?
    Snootchie Bootchies!
  • betmunch
    betmunch Posts: 3,126 Forumite
    Well 75% on a BTL is available, whether or not the ex-council flat causes a problem on not may be a deal breaker.

    There are few lenders doing 75% on BTLs so I think it is likely you will be OK, You should get to an Independent Mortgage Advisor on the case to find out for sure as theres a lot more to BTL criteria than the property itself
    I am a Mortgage Adviser
    You 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.
  • Dave_Ham
    Dave_Ham Posts: 6,045 Forumite
    Tenth Anniversary Combo Breaker
    Funnily enough been searching these today;

    75% LTV buy to let - yes so long as homeowner, decent credit score and the valuer does not suggest the property is in a really, bad area or state

    Upto 85% LTV on a residential basis just in case you were interested.

    Good luck
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • MF2015
    MF2015 Posts: 333 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Dave_Ham wrote: »
    Funnily enough been searching these today;

    75% LTV buy to let - yes so long as homeowner, decent credit score and the valuer does not suggest the property is in a really, bad area or state

    Upto 85% LTV on a residential basis just in case you were interested.

    Good luck
    Hi Dave, out of interest who are doing 85% BTL's, I know Kent are but can't see any others.
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