Sonic'

Are they still viable / available etc

What kind of deposit would be required

Looking into the possibilty of maybe getting some equity from my house to buy another, but in the current economic climate not sure what my chances would be if it was a buy to let

Seen a property that is respectably priced, and it got the cogs working lol

Deep Singh

Another post about money, disgusting! Its capitalists like you that have caused this economic mess

Timwinner

iTrader: (3)

To get something worth the price you need to look at about 40% deposit. There are loads out there still.

Sonic'

Whatever LOL

WRXBOB

Wife has 11 BTL mortgages and it was a max of 80% LTV before the big bank crashes (LTV = Loan To Value) But these days I couldn't say?

What I can say is that with interest rates so low, its a great for the profit margins; 1 weeks rent from each property pays for that mortgage!

MattW

Been looking at the same, you can get 75% ltv at the moment but the rates are not fantastic.

SunnySideUp

Wait a minute ........

Prices are about to take another hit - mortgage advances for March fell for the first time in 4 months, the spring 'lift' has been and gone, the housing market reaches its peak at Easter ...

Wait till Autumn/Winter and then buy.

MattW

Pete, that's where I am too, unless you can pick up a nice repossession.

Neanderthal

iTrader: (6)

Scoobynet members soon to appear on Homes Under the Hammer?!

Deep Singh

Only joking earlier of course.

You may find difficulty in getting a btl on certain kinds of property ie 2bed flats on which many lenders will just not lend anymore.
Aswell as falling prices beware falling rents and rising unemployment

cookstar

iTrader: (6)

I would never pull equity out of my family home to take a risk on another property.

If you have the cash sitting there then i say go for it, if you are looking at a long term investment. Maybe there is more of a drop to come,maybe not. Nobody knows for certain. But in 25 years you can be sure it will be worth more than it is now.

I have been quoted between 25-30% for a BTL mortgage, I'm actively looking about to pick another up but have had a few offers turned down recently.

Hope to have at least one more, maybe two by the end of the year.

salsa-king

only if you alrreay have BTL like we have, I wouldn't want to be getting one now.... about £1k arrangment fees, 40% deposits and stupid %rates. just look at the Personal banking: product, service, online, internet: HSBC Bank UK site to give you an idea, lots are following suit.


ours areall good rates at the mo, but middle of last year I came ff discounted rates and they went up to almost 7% and with the HSBC BTLs their rate was/is still now 2% above THEIR base rate!!