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John_C

posted on 5th Mar 06 at 21:51

quote:
Originally posted by Kerry
quote:
Originally posted by John_C
buy to lets are easy 2 get if u have the 15% deposit.

northern rock will lend up to 89% but i expect fees and rate to be high


higher lending charges are usually over 90%


shop around there'll b lenders that wont charge a hlc. fees can be up 2 1.5%
of the loan.
http://www.mortgagesforbusiness.co.uk/


AK

posted on 5th Mar 06 at 21:09

if i did do it.... i'd prob want to put down about 20k.....

Are rates much higher on 'buy to let' mortages? Do lenders get the hump if a property is bought and let'd on a conventional mortgage?


Kerry

posted on 5th Mar 06 at 20:53

quote:
Originally posted by John_C
buy to lets are easy 2 get if u have the 15% deposit.

northern rock will lend up to 89% but i expect fees and rate to be high


higher lending charges are usually over 90%


John_C

posted on 5th Mar 06 at 20:49

buy to lets are easy 2 get if u have the 15% deposit.

northern rock will lend up to 89% but i expect fees and rate to be high


Kerry

posted on 5th Mar 06 at 20:47

students can get buy to let mortgages :thumbs:


Kerry

posted on 5th Mar 06 at 20:47

quote:
Originally posted by Ian
I looked at it for buying another flat to let. Needed 15% down to be sqaure on rental income though, so I shelved the idea. They were prepared to lend 85%.


buy to let mortgages differ to residential mortgages
most lenders only go to 80/85% max on buy to lets and again credit policy is different to residential and from lender to lender


Ian

posted on 5th Mar 06 at 20:42

I looked at it for buying another flat to let. Needed 15% down to be sqaure on rental income though, so I shelved the idea. They were prepared to lend 85%.


Paul H

posted on 5th Mar 06 at 20:41

quote:
Originally posted by Kerry
lenders credit policys dont differ its just the process of purchasing a property thats different in scotland
:)


Kerry

posted on 5th Mar 06 at 20:40

lenders credit policys dont differ its just the process of purchasing a property thats different in scotland


Tiger

posted on 5th Mar 06 at 20:39

I applied for a mortgage for the fun of it the other day. They will let me borrow £60,000 - Bloody good of them I must admit, but, like thats gonna buy me maybe a lean to?:lol:

Ben.

[Edited on 05-03-2006 by Tiger]

[Edited on 05-03-2006 by Tiger]


Paul H

posted on 5th Mar 06 at 20:29

quote:
Originally posted by Kerry
you can have as many mortgages as you like but your income will need to cover both

mortgages are my forte :P
does that apply in scotland though :boggle:


Kerry

posted on 5th Mar 06 at 20:03

you can have as many mortgages as you like but your income will need to cover both

mortgages are my forte :P


AK

posted on 5th Mar 06 at 20:02

:boggle:

I'm interested in buying a property, but i have already got a mortgage (joint) on a flat.
Is it correct that most lenders will stick to the rule '1 mortgage per person'.... does a joint mortgage come into this?

any words of wisdom..... i'm off to google it, but would like to know of any real life situations.