BTL Mortgages NI

shaz77_2

Hello All,

I have about 35k (37% of original house value) left on a mortgage with a nine year term at 4.75% with Danske - there is also fee regarding the release of the deeds of £125. BOI had an interest in taking this mortgage on offering to pay all costs with the exception of the £125, there rate of interest was 4.15%. However with the fee of deeds fee of £125 it would take 17 months until I started to actually save money so this deal seems less appealing. My question is, are there any other banks in NI with an appetite for BTL mortgages?

Thanks in advance.

duggan1

It's probably not that banks don't have an appetite for BTL, but that they don't have an appetite for your BTL mortgage.

It's quite a low amount to be honest and no doubt a short term as well. Not really worth a lot to the bank at 4% to be fair. In fact that's probably about break even overall.

shaz77_2

duggan1 wrote: »

It's probably not that banks don't have an appetite for BTL, but that they don't have an appetite for your BTL mortgage.

It's quite a low amount to be honest and no doubt a short term as well. Not really worth a lot to the bank at 4% to be fair. In fact that's probably about break even overall.

It was Danske whom I am with that have said they no longer have an appetite for BTL mortgages, this was when I approached them about a better deal.

Old_Git

have you a residential mortgage .Would you be able to add the BTL mortgage to your residential mortgage and perhaps get a better rate .Thats what I did .The interest was still tax deductible .