Buy to Let required with small deposit

Posted on 14 March 2009

HI I AM LOOKING FOR A BUY TO LET MORTGAGE WITH A 10% OR 15% DEPOSIT ON A 11400 LOAN<CAN U HELP

A 15% deposit would have been sufficient before the credit crunch, subject to the rental income being adequate, but the minimum deposit required now is 25%, although most lenders require at least 30%.

Categories: Buy-to-let

Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not neccessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

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Your initial consultation is obligation free. There will be a minimum fee for our service of £450, of which £150 is payable when you apply, and we will retain the commission from the lender. Alternatively, you can choose the fee only option which is typically 0.63% of the amount borrowed. The precise amount will depend on your circumstances and loan amount, and will be discussed and agreed before you make an application.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT

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