There’s so much changing in the mortgage market at the moment that I thought it’d be useful to get an update from my mortgage broker on what are the best Limited Company buy to let mortgage deals.
I asked him just to tell me about 75% LTV mortgages – because with the model I use that would be the minimum I’d be looking for.
This is what he came up with:
2 Year fixed rate 3.25 % up to 75% LTV with 1% lenders fee + £299 lenders booking fee & Free valuation.
5 Year fixed rate 3.64% up to 75% LTV with 2% lenders fee – can be added. Free valuation + £350 cashback for remortgages or purchase.
5 Year fixed rate 4.10% up to 75% LTV with NIL lenders fee – Free valuation + £350 cashback for remortgages or purchase.
HMO/MUB properties also considered up to 75% LTV – small loading applies circa 0.1% -0.25% to above.
Interest cover from 125% assessed against notional stress rate of 5.50% (2 year fixed) or 4% in respect of 5 year fixed.
25k minimum income – based on joint applicants earned income.
If income an issue we have lenders offering broadly similar terms to Ltd Co’s with no min income requirements.
Min property value £75k – ex LA Houses considered but ex LA flats not considered (we have other lenders who will).
Leasehold considered provide unexpired term is 85 years+ at the time of application.
Max age at end of term 85 – max mortgage term 25 years.
If you are looking for a buy to let mortgage and you’d like me to put you in touch with my (really good) mortgage broker feel free to email me
thepropertyteacher@gmail.com
Here’s to Successful Property investing.
Peter
Peter Jones
(ex) Chartered Surveyor, author and property investor
http://www.ThePropertyTeacher.co.uk
PS. By the way, I’ve rewritten and updated my best-selling e-book, The Successful Property Investor’s Strategy Workshop, which is an account of how I put together my multi-property portfolio, starting from scratch and with no money of my own, and how you can do the same.
For more details please go to: http://www.thepropertyteacher.co.uk/the-successful-property-investors-strategy-workshop/