Best BTL Deal - Ready to Proceed

PaulUK_4

Personal Details :-

Husband (38) & Wife (33).

Husband able to provide last 3 months wage slips to August 05 (but leaves job next week) - salary £16,500. (Will be HGV lorry driver from early September doing Agency work).

Wife not working (but savings income of £3,500pa).

Both with excellent credit rating.

Previous Bristol/West Residential Mortgage - cleared in 2003.

BTL Property :-

Detached House in England (nr Bristol).

Built 2002, standard construction.

Owned since June 2002.

Value £200,000 - £215,000

Rental Details :-

AST 6 months at £850pcm expected.

No DSS etc.

Mortgage Requirements :-

£100,000 Mortgage required.

Looking for best BTL Deal ;

Tie-in 2 years max (but will extend to 3yrs for a good deal).

Low start-up costs (but overall costs in 1st 2 years taken into account).

Ideally a Tracker, as I expect Bank Rate to fall (but again, overall costs to be compared with fixed etc).

Anyone have any good rates available please ??

- we are looking to start this application ASAP.

Paul

Pinkleylandii

Hi there try standard life 4.99% I asked the same question and somebody told me about this btl. 2 years fixed rate no tie ins out of that period, fee total £500.

rental needs to be 130% more than the interest payment of the mortgage. Mortgage brokers charge 1.5% (£1500).

As to tracker a bit of advice. We took out a mortgage not fixed and the interest rates went up rather than down and we struggled, this deal is just about up and we are definately going for fixed, we at least know where we are for 2 years.