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Looking for a BTL mortgage....... can anyone recommend anything ?
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Re: Any good BTL mortgage deals about ?
There are loads all of a suddenOriginally posted by Deepie View Post
The best ones come from the specialist BLT lenders not the High Street banks who don't understand the BLT market.
I use The Mortgage Works which is a division of the Nationwide. They will lend up to 80% LTV starting at 2.49%. The criteria for the loan is based on the rental income potential of the property which needs to be 125% of the monthly mortgage payment (using a notional rate). Although the borrower's income is not used for application purposes you will be credit checked and need to prove that you can support yourself without dipping into the rent.
They will also lend up until you are 90 years old (when the mortgage matures) which is why I chose them. This is their website for intermediaries (aka brokers) only but it gives you a really good insight into how the whole BLT thing works.
http://www.themortgageworks.co.uk/li...loads#prodcrit
Another one I use is the Mortgage Trust (part of the Paragon Group) where rates start at 2.99%. But they track Libor not BBR so it can be a bit more volatile. They are extremely tolerant of arrears as I found out in 2009
http://www.mortgagetrust.co.uk/ -
Re: Any good BTL mortgage deals about ?
Thanks for that planB....... I've just been having a read here ----> http://www.thisismoney.co.uk/money/m...uy-to-let.htmlI'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.
If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.Comment
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