Buy to let mortgage

MrBump · 23-04-2006, 17:30

Anyone know if a 100% buy to let mortgage is available???

johnjohnhealy · 23-04-2006, 17:51

There are so many different products available in the mortgage market at any one time that you would need to see a decent financial advisor/mortgage broker (an independant one most importantly, avoid any large banks/building society's or ones linked to an estate agent that is selling the property).

Mortgages offered change day by day, often a cracking mortgage deal will only be available for a couple of days, untill the compay realises too many are going for it and they wont make much money!

I'd very much doubt you'd get a 100% buy to let in todays market, and more importantly it probably wouldn't make financial sense, you wouldn't get enough rent to cover the mortgage, so any long term gains in increasing property value would be negated by the shortfall in the rental income.

You really need a minimum deposit of 10% to make it work financialy, and that is usually the minimum deposit required by most lenders.

MrBump · 23-04-2006, 17:58

Thought so! Had a look online and most require a deposit of 25%. Might try ringing around a few brokers tomorrow.

23-04-2006, 17:30	#1
MrBump Briskodian Join Date: Dec 2004 Location: Scotland Posts: 235 Members Car: Thanks: 0 Thanked 0 Times in 0 Posts	Buy to let mortgage Anyone know if a 100% buy to let mortgage is available??? __________________ It's a Citroen. Honest

23-04-2006, 17:51	#2
johnjohnhealy Briskodian Join Date: Jul 2005 Location: UK south east Posts: 2,428 Members Car: Superb 130pd Thanks: 1 Thanked 13 Times in 12 Posts	Re: Buy to let mortgage There are so many different products available in the mortgage market at any one time that you would need to see a decent financial advisor/mortgage broker (an independant one most importantly, avoid any large banks/building society's or ones linked to an estate agent that is selling the property). Mortgages offered change day by day, often a cracking mortgage deal will only be available for a couple of days, untill the compay realises too many are going for it and they wont make much money! I'd very much doubt you'd get a 100% buy to let in todays market, and more importantly it probably wouldn't make financial sense, you wouldn't get enough rent to cover the mortgage, so any long term gains in increasing property value would be negated by the shortfall in the rental income. You really need a minimum deposit of 10% to make it work financialy, and that is usually the minimum deposit required by most lenders.

23-04-2006, 17:58	#3
MrBump Briskodian Join Date: Dec 2004 Location: Scotland Posts: 235 Members Car: Thanks: 0 Thanked 0 Times in 0 Posts	Re: Buy to let mortgage Thought so! Had a look online and most require a deposit of 25%. Might try ringing around a few brokers tomorrow. __________________ It's a Citroen. Honest

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