85% Buy to Let Mortgages are back!
A new BTL mortgage has been released which is apparently taking the market by storm. This product is ideal for investors buying property below market value as the lender will consider loans of 70% of the open market value to 85% of the purchase price!
Purchase price £20000 (Max 85% = £170000)Market value £250000 (Max 70% = £175000)Mortgage Loan £170000 (lower of the above)
Not only that, but if you have recently purchased your property with cash, say from an [auction -> auction @ s-b-f.co.uk], they will allow you to remortgage on the same basis even though you may have not owned the property for 6 months!
Rates and terms are competitive, and the lender will even consider multiple flats arranged on one freehold title or houses that are let to multiple tenants!
For more information about this please contact us and we will forward you details of the broker offering this deal.