How much deposit would I need for a buy to let mortgage for a property valued at £250,000?

Posted on 24 April 2008

Hi,

I currently have a house estimated at £250,000, I want to do a buy to let, rent out the property and move into another worth £300,000.  How much deposit would I need for both of these properties?

For the buy to let, you'll need 15% deposit for some lenders, but most need 25%, especially if you want a good rate.  Rental income would need to be around £1,100 per month.

For the residential property, you need at least 10% deposit, and a personal provable income of £60 - £70k.

 

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