Buy to Let 80% LTV Mortgages
Buy to Let Mortgage Service - helping you make the right decision
Special features of what we offer include:
- Whole of market service - we can compare 80% buy to let deals from most UK lenders
- Top rates - Access to leading buy to let market mortgage rates
- Access to exclusive buy to let loan deals not available on the high street
- Fast turnaround - speak to us today if you need to move quickly
- We have lenders who will take into account previous defaults and missed payments.
- Looking to remortgage or raise additional finance on top of your existing buy to let mortgage? - we have access to a range of buy to let finance solutions
To investigate your buy to let mortgage options with 20% equity or deposit, call our buy to let mortgage team on 0117 403 4222 or fill in our call back form.
In today’s financial climate, buy to let mortgage lenders are beginning to require more security from customers. A 20% deposit is usually considered the minimum that lenders will require in order to get a loan at a reasonable rate; however, this percentage may vary a great deal depending on the provider.
A 20% deposit for a buy to let mortgage may seem like quite a large sum at first, but it should be remembered that buy to let agreements typically represent a much greater risk to lenders than a traditional mortgage. 80% LTV for most BTL lenders is the maximum allowed - only a few will go beyond this.
The level of interest charged will typically be higher at this level of borrowing. As such, financial institutions will require a reasonable level of security from customers before an agreement is made.
Due to the changes to the buy to let regulations in 2017, lenders will implement a stricter income stress test that will require borrowers to show that they would still be able to make mortgage repayments in the event that the interest rates increase to 5.5%.
As a result of the 2017 changes, lenders will require a rental coverage ratio of 145% for standard buy to let properties and 170% for house in multiple occupation buy to let properties. This is to provide the lenders peace of mind that mortgage repayments will be made.
In addition, lenders will review a landlords property portfolios before granting a buy to let mortgage. If a lender finds that one or more of a landlord’s properties are not profitable, then they will not provide the buy to let mortgage. This means that you can no longer spread equity across your portfolio.
Getting the best value 80% LTV buy to let mortgage deal
Repayments on a higher LTV buy to let mortgage will often be higher than those on a lower LTV mortgage, but there are some steps that be taken in order to reduce the cost of repayments.
For example, demonstrating to the provider that you have a reliable source of income may go some way to reducing these premiums. A good credit history, without any bad debts, missed payments or outstanding loans, may also reduce the cost of your buy to let mortgage.
Why choose Fair Mortgages?
Our buy to let mortgage service can help you find the ideal buy to let mortgage – so all you have to do is find the right tenants.
Using a buy to let mortgage broker ensures that you are provided a selection of the best fixed and tracker buy to let mortgage products available in the market. With Fair Mortgages you can:
- Find the lowest mortgage rates from a range of leading buy to let providers
- Get buy to let quotes and find the best one suitable for you
- Get advice on repayment methods – depending on your circumstances you could choose to make your buy to let mortgage repayments on an interest only or capital repayment basis.
- Find advice on transferring your buy to let mortgage rate to another buy to let property.
For specialist buy to let mortgage advice, call us on 0117 403 4222 or complete our request callback form.