Are buy-to-let mortgages still available?

More than 85% of buy-to-let mortgage lenders are now continuing to lend to landlords, according to mortgage broker Mortgages for Business. In numbers, just seven of the 49 buy-to-let lenders operating in March have now stopped lending. This leaves 42 still to choose from.

Can you get a 90% buy-to-let mortgage?

That said, finding a buy to let 90% LTV mortgage is not impossible but you will need to be prepared to pay higher interest rates than those with larger deposits. There are also very few lenders that offer 90% LTV buy to let mortgages, meaning you will have less choice in which to go for.

Can I claim mortgage interest on buy-to-let UK?

If you increase your mortgage loan on your buy-to-let property you may be able to treat interest on the additional loan as a revenue expense, or get relief against income tax as long as the additional loan is wholly and exclusively for the purposes of the letting business.

How much deposit do you need for a buy-to-let mortgage UK?

The minimum deposit for a buy-to-let mortgage is usually 25% of the property’s value (although it can vary between 20-40%). Most BTL mortgages are interest-only. This means you pay the interest each month, but not the capital amount. At the end of the mortgage term, you repay the original loan in full.

How much deposit do you need for a buy to let 2021?

Most lenders will require at least a 25% deposit and the cheapest mortgages may ask for 40%.

What is the maximum loan to value for a buy to let mortgage?

Highest LTV: Buy to let mortgages at 85% LTV are the highest LTV you can go to as a landlord investor – this includes remortgages. Interest only or capital repayment: Interest only mortgages are available at up to 85% LTV for buy to let.

What is the lowest deposit for a buy to let mortgage?

15%
As BTL mortgages usually require a minimum of a 15% deposit (85% LTV), there is not a high negative equity risk if house prices fall.

What happens if you get caught living in a buy to let property?

In a worst case scenario a borrower who takes out a buy-to-let mortgage and lives in the property could face prosecution as lying to a lender is mortgage fraud.

Are buy-to-let mortgages still available? More than 85% of buy-to-let mortgage lenders are now continuing to lend to landlords, according to mortgage broker Mortgages for Business. In numbers, just seven of the 49 buy-to-let lenders operating in March have now stopped lending. This leaves 42 still to choose from. Can you get a 90% buy-to-let…