Buy to let Question

Jam555s

hi there, i have a couple of old (over 3 years old) satisfied defaults on my credit file, im looking to take out a buy to let mortgage, i have the nesserry deposit from my current mortgage provider, as a further advance,

what buy to let mortgage providers are resonablay leanient towards this,
and what amount of deposit do they require?

thanks

PROFESSIONAL_LANDLORD

Jam555s wrote: »

hi there, i have a couple of old (over 3 years old) satisfied defaults on my credit file, im looking to take out a buy to let mortgage, i have the nesserry deposit from my current mortgage provider, as a further advance,

what buy to let mortgage providers are resonablay leanient towards this,
and what amount of deposit do they require?

thanks

What ! don't mention BTL here mate for gawds sake, were have you been ? the party's over, you've missed the boat ! anyhow hang on a bit and you can pick up a couple with 60% off;)

Jam555s

hey man what u talkin about

plane_boy2000

BTL is not really something I think you should be getting into in the current market especialy given your past credit issues, and the fact you have borrowed against your main residence to fund this.

The boom is over IMO and although I dont think the market will crash I think that at best it will remain static. With your gearing you dont have much chance of even breaking even, and allowing for void periods, maintenance, insurance, safety certs and any other letting costs then you will probably end up funding someone else to live in a house you are paying for.