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
Here’s to Successful Property investing.
(ex) Chartered Surveyor, author and property investor
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/