We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Best BTL rates
shazkhan111
Posts: 621 Forumite
apologies for repost....
what are the best BTL rates on the market for 100% payrate ?
what are the best BTL rates on the market for 100% payrate ?
0
Comments
-
100% payrate as in no deposit?
There isnt any mainstream lender that will do 100% BTL mortgages. Its getting harder to get 85% ones now with interest rates rising and rental yields usually below 5%. (so you end up paying more on the mortgage than the rent)I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
i think he means 100% payrate as in you just need to cover the rental income and not 115% etcI 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
-
Whilst I understand the question, getting a BTL mortgage on 100% payrate is incredibly risky given that rates are only likely to increase in the near future.
Presumably you have ample other income to cover the BTL mortgage payment gap if rates rise, not to mention the whole of the payments for the duration of any rental voids?0 -
shazkhan111
Try Mortgage Express or First National. They both had deals last month with 100% payrates. Be warned though!. The rental valuation will have to pretty much match your figures AND the you'll probably get stung with some hefty fees!0 -
BMS via brokers have some 100% rates
Westbrom is 100% based on 6.24% at present0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards