85% LTV Buy to let mortgages explained
Buy to let mortgages at 85% LTV
85% loan-to-value deals are popular with first time landlords and property investors who want to get into letting property with the minimum amount of deposit. If you are looking for an 85% deal then you’ll need a minimum of a 15% of the purchase price as a deposit.
What are the advantages of an 85% buy to let mortgage?
The most obvious advantage is that you’ll only need to raise a relatively small deposit of 15% to purchase the property. This is great if you only have a small budget, and may free up cash to spend on other expenses such as stamp duty, solicitors fees etc.
What’s the downside?
As with all buy to let mortgages, the less you put down against the purchase of the property then the higher rate on interest you’ll be changed by your mortgage provider. Therefore you could consider this as a downside if you could afford to raise a 20% or 25% deposit for example you would be rewarded with a better a cheaper rate of interest.A smaller deposit will cost you more on your mortgage repayments due to a higher rate of interest being changed.
Where can I find the best 85% buy to let mortgage deals?
Our buy to let mortgage comparison tools search and find all the best 85% loan to value deals available from the whole UK mortgage market place. You can then quickly compare the deals and lenders to see who is offering the best and cheapest rates.
Can I get a buy to let mortgage with a bad credit rating and low credit score?
BTL mortgages with bad credit
There are ranges of specialist and some high street buy to let lenders who will consider lending to those with an adverse credit history. If this applies to you then we would strongly recommend that you speak with a bad credit mortgage broker here on the website. They will be able to search the market upon your behalf and provide advice and guidance on what your options are.
Where can I get further buy to let mortgage advice?
Speak to an independent mortgage expert here on the website. Their advice is free and without obligation to proceed with a mortgage.