It is common for us to approached by Landlords who are looking for the best Buy to let Mortgage with a low deposit type of products to purchase a property.
This could be for all different type of reason but their wish to retain as much capital as possible for renovations or the next project means high loan to value buy to let mortgages are getting more common.
Most UK Buy to let mortgage lenders pitch in at 75% loan-to-value as a maximum so the rates are competitive at this level due to the added competition, however, it is possible to access a buy to let mortgage with a deposit as low as 15%.
The same 85% loan-to-value is accessible for remortgages as well as purchases and if your looking for a Buy to let Mortgage with a low deposit it could give you some options.
The most important factor to bear in mind is Buy to let Mortgage with low deposit products can only work if the rental yield is very good as the coverage is worked out against the product pricing which is generally higher than what you would expect on a 75% deal. As you will also see from the below they are also not very cheap so if the rate and fees are too high for you I suggest looking at 80% loan to value options too.
Buy to let mortgage with a low deposit
- 85% of the property value
- Loans from £100,000 to £1m
- Maximum age 85 years (term end)
- Single family lets, Student Lets and HMO’s
- Personal name or limited companies
Free basic legal service and valuation. No lender arrangement fee.