does anyone know of any banks etc in the UK that will offer a buy to let mortgage on a 15% deposit? All the ones i have looked at are asking for a minimum of 25%deposit. thanks.
3 Comment(s)
Try loansite.co.uk they should be able to help good luck
Sorry not possible in the current climate. The BTL mortgage market has been squeezed even more that the residential market.
As you have found out already 25% deposit is the LEAST you can get away with, the norm is now 30%+ for Buy to Lets.
Have you thought of remortgaging your main residence to raise a larger deposit, if you have the equity & income ?
Try loansite.co.uk they should be able to help good luck
lisa4phil | Sep 12, 2009 | Reply
Min deposit fot a BTL mortgage is currently 25%. 85% loans no longer exist for BTL.
Mike L | Sep 14, 2009 | Reply
Sorry not possible in the current climate. The BTL mortgage market has been squeezed even more that the residential market.
As you have found out already 25% deposit is the LEAST you can get away with, the norm is now 30%+ for Buy to Lets.
Have you thought of remortgaging your main residence to raise a larger deposit, if you have the equity & income ?
bluenose1949 | Sep 14, 2009 | Reply