Buy To Let Mortgage Deals

During the turmoil of the credit crunch many existing & prospective buy-to-let landlords found difficulty in obtaining buy-to-let mortgage or re-mortgage deals. A number of the most prolific lenders severely restricted the availability of buy-to-let mortgage deals & some stopped lending altogether.

As we emerge from recession, the mortgage institutions have begun to rebuild their balance sheets & have greater liquidity. There are now many more buy-to-let mortgage deals available than 12 months ago. Some new mortgage lenders have appeared & some of the traditional lenders are re-entering the market.

The best buy-to-let deals available today are generally more restrictive than before. Loans are typically restricted to a maximum of 60-80% of the property value (LTV) & lenders will often require rental income to be 125% of the monthly interest repayment on the buy-to-let mortgage.