Possible to get a 5% LTV on a second home purchase?

tloz123

Hi guys, I’m currently buying a second house (my current property is being rented out - consent to let).
I have approached a few brokers but waiting for their reply but in the meantime I wanted to know if lenders offer 5% LTV for mortgages on second properties. It will be mine and my wife’s name on the house and the mortgage. She is a first time buyer.
If there are lenders, do you know which ones so I can contact them directly (to see if it’s cheaper than what the broker comes up with).

Thank you.

Edi81

Do you mean a 5% deposit and therefore a 95% LTV?
at 5% LTV it should be easy as affordability should be fairly good. If the other way then it will all depend. 

silvercar

As you will be increasing the number of properties you own, you need to factor in the higher rate of SDLT.

Edi81

silvercar said:

As you will be increasing the number of properties you own, you need to factor in the higher rate of SDLT.

The OP has already been posting about reducing the SDLT!