buy to let mortgage criteria

heytoki

kingstreet wrote: »

The maximum based on rental income calculation quoted is £128,000 but as I said, lenders are going to see you could not afford a residential at that level and think you are buying it via BTL then you'll live in it.

I suggest you appoint a broker and get proper tailored advice for your circumstances.

i have spoken to my financial advisor and unfortunately my plan wouldnt work.

There are only four lenders who will offer a BTL mortgage to a first time buyer. Two need a minimum basic income of £25k p.a. one needs £30Kp.a and the final lender needs me to be able to afford the mortgage based on my income and borrowing potential as if i were going to live in the property.