buy to let?

Question

does anyone know any mortgage companies that do buy to let with 95% LTV

THANKS

Answer 1

Best advice would be don't do it. It is not a good time for buy to let, the smart money is getting out.

Answer 2

The whole point of a normal LTV on a buy to let mortgage of 80% is that the lender is covered in the event you default. The equation of rental value just doesn't stack up at 95%. The bottom line is that you won't be able to get enough continuous rental money 12 months year after year to cover the mortgage. Professional use a bottom line of being able to rent for 10 months of the year taking into account gaps in tenents, repairs, defaullts . . . you name it. In this market particularly, where the is a possibility that the value of the property may even decrease over the next year . . . don't even think about it. There are 1000's of people who try this every year who come a cropper because of lack of research and hopeful arithmatic. With the greatest of respect to you, please do your sums again before going any further.

Answer 3

Asking 10 times just means you get 10 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 ...