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

Jam555s

anyoneshed any light on this ?

dunstonh

You have a poor credit history but wish to enter into a high risk transaction at a time when the market is at the top of a bubble and showing signs of decline?

Buy to let deposits typically need to be at least 15% and the rent needs to cover the mortgage which in reality means you need a bigger deposit than 15%.

What rental yields are you looking at and what sort of deposit have you got?

Mr_helpful

There are lenders who should look at doing this but as Dunston says you should exercise caution. Speak to a broker that understands B2L and has his own portfolio.