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Buy To Let Mortgage Needed
boss7
Posts: 12 Forumite
Hi
I have agreed a to purchase property at the value of £99k. I plan to put down 20-25% deposit.
I notice that Accord are offering a great mortgage deal at a decent rate, 5 year fixed, with a low fee of £195.
Having read some of the threads on here, being slightly put off, but at the end of the day if the deal is out there it must be able to be got somehow!
If not, can anybody recommend another product that would fit well with the above criteria. Ideally do not want to pay a £2k fee. The accord mortgage gives free valuation and £300 cashback which seems a great deal.
I have agreed a to purchase property at the value of £99k. I plan to put down 20-25% deposit.
I notice that Accord are offering a great mortgage deal at a decent rate, 5 year fixed, with a low fee of £195.
Having read some of the threads on here, being slightly put off, but at the end of the day if the deal is out there it must be able to be got somehow!
If not, can anybody recommend another product that would fit well with the above criteria. Ideally do not want to pay a £2k fee. The accord mortgage gives free valuation and £300 cashback which seems a great deal.
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Comments
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The 5 year fix is 75% so you need 25% deposit plus money for other costs0
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Hi thanks, yes I am happy with that.
Any other lenders apart from Accord that are recommended. Or any brokers to recommend?0 -
Minimum property value for Accord BTL is 100k so you are outside of criteria.
They are a nightmare of a lender anyway. Speak to a broker and see what they come up withI 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 -
Their website stated min. is £50k....
Yes will be in touch with a broker, may try L&C then.0 -
I have applied to Santander via my broker.
Rate, fees and other costs are different so the Accord deal was better but the SVR is 5.99% ouch and many brokers run a mile when you talk about Accord0 -
Their website stated min. is £50k....
Yes will be in touch with a broker, may try L&C then.
Was that for a residential property?
Click this and go to 'property value' in Properties section http://www.accordmortgages.com/btl/criteria/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 -
Their website stated min. is £50k....
Yes will be in touch with a broker, may try L&C then.
Minimum loan is £50k, but value is £100k, but as GMS says they are a nightmare, and best to avoid.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
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