2006-08-07 03:49:48 · 8 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
nope...85% only on a buy to let
but if u want a 100% mortgage then, im sure we can help you
you can contact me at Sterling Mortgages
2006-08-07 03:53:19 · answer #1 · answered by Pat 4 · 0⤊ 0⤋
This is called "investment property" and is a different situation than owner occupied property. The risks to the lender of loss and default are much greater.
Minimum down payments for investment property varies by lender. I know a few where it's as low as five percent in some instances, and some that don't touch anything with less than a twenty percent down payment. The higher your down payment, the more competitive the market gets, and the less risky the loan gets, which means the better your interest rate will be. But nobody does less than five percent down payments on investment property, even here in the United States.
2006-08-07 04:50:05 · answer #2 · answered by Searchlight Crusade 5 · 0⤊ 0⤋
It's always best to pay a deposit on a property. There is 100% mortgages but there's always a catch with them and you'll end up with a expensive mortgage with extortionate interest.
2006-08-07 04:11:26 · answer #3 · answered by TB 5 · 0⤊ 0⤋
actually whoever said 100% mortgages are rubbish, northern rock do pretty good ones! but they're right, you have to have 10% deposit on buy to let i think.
2006-08-07 04:29:24 · answer #4 · answered by officegirluk 3 · 0⤊ 0⤋
Normally 85% LTV however, why don't you raise the deposit against your existing property (If you have one). This may be subject to income, equity etc.
2006-08-07 04:46:41 · answer #5 · answered by Valiant 3 · 0⤊ 0⤋
Not at the moment 95% is the highest.
2006-08-07 04:18:42 · answer #6 · answered by MSMORTGAGE 3 · 0⤊ 0⤋
no. u need a good deposit and even the rates will be higher.
http://eMortgageDomain.com
2006-08-07 11:12:09 · answer #7 · answered by bidia 3 · 0⤊ 0⤋
No, you have to have a down payment.
2006-08-07 03:53:36 · answer #8 · answered by NANCY K 6 · 0⤊ 0⤋