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Buy To Let Mortgage Hotline - Call 0117 403 4222

Buy To let Mortgage With 15% Deposit

Buy To Let Mortgage Deals Of The Month

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FairMortgages.co.uk has partnered with Royal Bank Of Scotland to bring you some of the best mortgage rates in the market, which is why they say 'YES' to a mortgage every 60 seconds*. It takes just a few minutes to find out if they can help:

Call RBS Buy To Let team: FREE on 0800 096 7962

OPEN 7 DAYS A WEEK
Monday to Friday:  8am to 8pm 
Saturday & Sunday:  9am to 4pm

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Call FREE 0808 271 8482

Top rates for those looking to get a better deal or borrow more:

  • FIXED RATES from 1.69% (4.5% APRC)
  • FAST DECISION
  • LINES OPEN: 7 days a week 8am to 10pm

Call HSBC Buy To Let team FREE on 0808 271 8482 to find out how much you could borrow

Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 1.43%
Rate type: Fixed Sep-2019
Monthly cost: £486.64 per month
Max LTV: 60%
Product fee: £1720.00
Overall cost for comparison: 4.2% APRC
Post Office logo 1.43% Fixed Sep-2019 4.2% APRC 60% £1720.00 £486.64 per month get quotes Call direct0808 178 6813
Initial rate: 1.43%
Rate type: Fixed Sep-2019
Monthly cost: £486.64 per month
Max LTV: 60%
Product fee: £1720.00
Overall cost for comparison: 4.2% APRC
Post Office logo 1.43% Fixed Sep-2019 4.2% APRC 60% £1720.00 £486.64 per month get quotes Call direct0808 178 6813
Initial rate: 1.78%
Rate type: Fixed Aug-2019
Monthly cost: £500.61 per month
Max LTV: 60%
Product fee: £1490.00
Overall cost for comparison: 4.3% APRC
Post Office logo 1.78% Fixed Aug-2019 4.3% APRC 60% £1490.00 £500.61 per month get quotes Call direct0808 178 6813
Initial rate: 1.78%
Rate type: Fixed Aug-2019
Monthly cost: £500.61 per month
Max LTV: 60%
Product fee: £1490.00
Overall cost for comparison: 4.3% APRC
Post Office logo 1.78% Fixed Aug-2019 4.3% APRC 60% £1490.00 £500.61 per month get quotes Call direct0808 178 6813
Initial rate: 1.82%
Rate type: Fixed Nov-2019
Monthly cost: £507.48 per month
Max LTV: 60%
Product fee: £2273.00
Overall cost for comparison: 4.1% APRC
Royal Bank Of Scotland logo 1.82% Fixed Nov-2019 4.1% APRC 60% £2273.00 £507.48 per month get quotes Call direct0800 096 7962
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Buy To Let Mortgages With 15% Deposit

Buy to Let Mortgages with a 15% Deposit

As a general rule, buy to let mortgages tend to be more expensive than homeowner loans. Whilst residential mortgages can often be picked up with a deposit as little as 5%, obtaining a buy to let mortgage usually requires a more substantial deposit.
In general, lenders will tend to ask for a deposit of around 25% if the property’s value when looking to take out a buy to let mortgage. However, providing you meet the lenders criteria, there are lenders available who are willing to accept deposits of as little as 15%!

Am I eligible for a 15% deposit buy to let mortgage?

Finding and securing a buy to let mortgage with a lower deposit is likely to be a more difficult process than securing a regular buy to let mortgage. Whether a lender is likely to hand you a buy to let mortgage with a 15% deposit is likely to depend on your personal circumstances. Before handing you a mortgage with a reduced deposit, a lender is likely to take the following (along with other factors) into consideration.

  • Credit Rating – If a lender can see that you have had problems in the past with credit, they might feel less inclined to accept a smaller deposit off you for a buy to let mortgage. It’s worth noting that having a poor credit history does not necessarily mean you will not be able to find a buy to let mortgage at all, it more likely means lenders will ask you for a deposit of around 20-25% of the property’s value.
  • Age – Lenders tend to view older investors as a higher risk investment, and consequently are likely to ask for a higher deposit when it comes to buy to let mortgages.

How we can help

As lenders who are willing to accept a 15% deposit are more hard to come by than regular buy to let mortgages, you are likely to benefit from working with and contacting a mortgage broker or independent financial advisor. As a mortgage broker, we offer specialist and unbiased advice to assist you achieve your mortgage goals.

We work with the majority of UK lenders, and have access to exclusive buy to let mortgage deals that are not available on the high street, which means we can make that process of finding a mortgage with a 15% deposit that bit easier.

To find out if you might be eligible to obtain a buy to let mortgage with a 15% deposit why not call us today on 0117 403 4222, or fill in our online contact form to request a call-back for a free initial consultation with one of our advisors.

15% deposit for a buy to let mortgage

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