does anyone know any mortgage companies that do buy to let with 95% LTV
THANKS
2007-10-11 19:02:13 · 3 answers · asked by Chez 1 in Business & Finance ➔ Renting & Real Estate
No, but one or 2 do 90% LTV. Bristol & West are one, and I think Coventry BS do as well.
The only 95% LTV I have come accross recently was a Ltd company buy to let. I'm assuming you aren't a Ltd company therefore 90% is the max.
2007-10-12 00:30:12 · answer #1 · answered by derbyandrew 4 · 0⤊ 0⤋
Asking 5 times just means you get 5 identical answers :-=)
Anyway, 'buy to let' Mortgages operate on a 80% LTV .. the ONLY way to do it is to increase the Mortgage on your existing house to free enough capital to get the LTV on the 'buy to let' down to 80% ..
NB> Market is expected to take a down-turn, so should be some good bargains out there HOWEVER in many cases the Rental value is way less then the Mortgage ...
2007-10-12 03:47:41 · answer #2 · answered by Steve B 7 · 0⤊ 0⤋
Hello,
look at the "let to buy" mortgage rather than buy to let. It means you are renting out the house you are living in now to purchase another one. Usually used for people who dont need the big house anymore and want to downsize but do not want to lose the property either. What alot of people do is get a let to buy mortgage which requires a smaleer deposit im told then use the money they have been give n to purchase the second property. Im not saying this is easy but it is what one estate agent told em to do.
2007-10-14 17:48:36 · answer #3 · answered by paul p 1 · 0⤊ 0⤋