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Looking for high LTV on BTL
ethank
Posts: 2,197 Forumite
A friend of mine needs to extract some equity from a house thats currently on Consent to Let so they can fund buying a new place. They are happy to convert it to a BTL mortgage.
They need to get 80-85% LTV on it. I've tracked down two lenders Kent Reliance (85%LTV) and Aldermore (80%LTV)
Do any brokers have any experience of working with these lenders? Any info that I can give them?
They need to get 80-85% LTV on it. I've tracked down two lenders Kent Reliance (85%LTV) and Aldermore (80%LTV)
Do any brokers have any experience of working with these lenders? Any info that I can give them?
0
Comments
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There is another but I think that is pretty much the market at anything above 75% LTV.
Ive done business with both and use aldermore a lot. They are FAR easier to deal with than kent.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 -
Second ACG sentiments on Aldermore being quicker/easier
There are a few more but be mindful many potential but to let's have issues with the rental yield on 80-85 percent ltv deals so do your research well.
Some have issues around deposit % on ongoing ressie purchase too so again be careful and lastly any use of specific lenders on some 95% products don't like properties retained.
Many a variable to be mindful of here so engage a pro or do plenty of what ifsI 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.0
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