Do 85% BTL mortgages exist and who can get them?

M47

Hi everyone…… my question is, do 85% LTV, BTL mortgages exist and who can get them? Are they only for those with perfect credit? Or could someone with fair credit be eligible?

 have heard of these existing once upon a time however not so much in this day in age.


If they do are they likely to pass affordability tests in this day and age with interest rates being higher than they have been in comparison to a year or 2 back?

Thank you in advance 🤞

housebuyer143

Before base rate flew up and the mini budget there were at least 10 lenders who did 85% LTV, but that dwindled down to about 3 by middle of last year. 
You are best of speaking to a BTL mortgage broker who can let you know which lenders still do 85%. Your pickings will be slim and it's generally only for landlords with decent credit. 

BTL need to be self funding so the rent payments need to cover the mortgage payments plus normally an extra 25/40%, so affordability depends on the loan amount required and rent achievable.

I know Vida does them but the rates are eyewatering. 

amnblog

In theory yes, in practice, no