# Buy To Let Mortgages



## davidrogers190 (Dec 17, 2007)

Does anyone know what sort of rates these are at at the moment?


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## Adam D (Nov 3, 2009)

Very poor.

Mind you, even mainstream rates are pants nowadays given what the base rate is.

Lots of lenders have had their fingers burnt by the recent economic downturn and fall in house prices.

You may be okay if you have a large deposit to put down.

God I hate doing this, but try Birmingham Midshires.


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## APK (Oct 6, 2008)

What sort of figures are you looking at? 

You will need at least 25% deposit, lenders are also very picky, most insist that you are earning at least £25k, and not a first time buyer, nut on the positive side, BTL is now making more sense again, as rental incomes are generally covering mortgage payments quite comfortably.

Sorry to be vague, but BTL rates especially vary tremendously depending on LTV, I have figures showing for mainstream rates between 3.49 & 7.59% fees also tend to be higher than resi, with £1-2k normal.

You really need to speak to a good broker (you should be able to find one who won't charge) on BTL's, they will find the best/most suitable deal for you, which won't be any different to going direct, but will save you the legwork.


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