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Tuesday, February 08, 2011

85% mortgage returns!

Well it seems like a lifetime away, but those with a good memory of the buy-to-let mortgage market who cast they minds back to the heady days of 2007 will remember that 85% LTV mortgages were common place.  These all disappeared with the event of the credit crunch.

However, one lender Kensington Mortgages has entered back into the market with a BTL mortgage that only requires a landlord to put down 15% equity.  The mortgage is available on a 5.99% 2 year fix and comes with a 2.5% fee.

The one downside is that interest cover is quite high meaning that your buy-to-let will have to be yielding well above 6% to be able to secure the maximum loan to value.

Property Hawk Mortgages

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