Best Buy to Let Deal

dave4343

Hi,

Hoping someone can help or advise.

Looking for best buy to let with either 20% or 25% deposit, 20% ideally!! and one with minimal lending criteria, eg minimum salary 20k, etc etc.

Looked at the obvious high street banks and these seem ok, are these the best ones to go for.

Thanks

Dave

Jimbo1976

Speak to a broker, the vast majority of buy to let deals are sold through them. Indeed most lenders refuse to deal with buy to let borrowers directly.

There aren't a lot of 80% deals around and the thing which has the biggest impact on how much you can borrow is the lenders rental calculation. ie the lender normally wants the rental payment to be 125-130% of the interest only mortgage payment.

So even if you find a lender which will give you an 80% LTV deal that doesn't mean that you can have that level of borrowing if the rental on the property isn't enough.

Dave_Ham

You really are after your cake and eating it.

Decent terms with minimum deposit and relaxed criteria...

Depends upon your circurmstances if you will achieve 80% LTV, as most have stringent criteria, specifically most want you to be an experienced landlord.

There are some out there, but you will need a broker.

Good luck

mothershipton

I used Which mortgage advisors and got an 80% mortgage with Birmingham Midshires. One thing i found was that the fees for good deals were really high. Which were very good at looking at all offers and advising me.