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
No upfront Broker fees by us. You only pay once the deal completes.
Example Product Rate and Fees – Buy to let mortgage with a low deposit
[ezcol_1fifth]Initial Rate: 4.99%[/ezcol_1fifth] [ezcol_1fifth]Subsequent: 6.58%[/ezcol_1fifth] [ezcol_3fifth_end]The overall cost for comparison 6.78% APRC[/ezcol_3fifth_end]
The total amount you must pay back, including the amount borrowed is £673,898.12
Free basic legal service and valuation. No lender arrangement fee.
| Type and initial benefit period | 1.59% discount for 2 years |
| Minimum deposit / equity: | 15% |
| Valuation fee | £250 |
| Booking fee | £130 |
| Lender arrangement | £6375 |
| Telegraphic transfer / CHAPS fee | £25 |
| Legal fee | £103 |
| Early repayment charge | None |
For more information on Buy to let Mortgage with a low deposit please call complete the enquiry form on this page or call the number below.
Any property used as security, which may include your home. may be repossessed if you do not keep up repayments on your mortgage
Important Information
Residential and Buy to Let Mortgages
Rates current as at 07/09/2018 . The overall cost for comparison is based on an open market value of £300,000 over a 25 year term. Right-to-Buy examples are based on a discounted purchase price of £200,000. Repayment for Residential and Interest only for Buy-to-let (unless otherwise specified). Eligibility will depend on your own personal circumstances.
KEY – ERC = Main early repayment charge.
The purpose of this web is for information only and is based on a fictitious illustrative scenario. It does not constitute a Mortgage Offer in any way.
It is essential that you seek independent mortgage advice as a suitable product will be based on your own individual circumstances. An interest rate should not be read in isolation, and you should refer to your personal key facts illustration and Mortgage Offers for full terms and conditions. If anything is unclear it should be discussed fully with both your mortgage and legal advisors before entering into a mortgage contract with the lender.
The information contained herein is based on research through the Trigold (IRESS UK) sourcing system. When first published to this site the data is normally 24 hours behind real time, and may or may not still be available.
A first charge over your property is required as security for the loan.
The formal mortgage offer of an advance will be subject to a valuation and other satisfactory references.
