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High LTV BTL Deals
Dogz111
Posts: 73 Forumite
Hi,
Just wondering if anyone knows who is currently doing high LTV BTL deals. I've seen one with Kent Reliance (85%) but just wondering what other offers are out there?
Thanks
Just wondering if anyone knows who is currently doing high LTV BTL deals. I've seen one with Kent Reliance (85%) but just wondering what other offers are out there?
Thanks
0
Comments
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RBS?
Although advertised at 85% the rental yield rarely fits the lenders criteria for much more than 75%.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.0 -
Its difficult getting 80% to fit, let alone 85%.I 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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To give context
Value c£100
Dep c£15k
MTG £85k
By my reckoning the figures work up to 6.75% rate on 125% rental income multiple or 5.5% on a 150% multiple. Surely this must fit their underwriting criteria?
Based on the above any recommendations?0 -
Assuming you need 125% at 6%, to borrow £85,000 you'd need a rental income of £531.25.
Are RBS/NatWest the same? 125% at 7%, unless you earn £50k+ as a personal income?I am a mortgage broker. 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. Please do not send PMs asking for one-to-one-advice, or representation.0 -
I can't see any 85% LTV BTL's on RBS / Natwest website?0
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