What does rental cover mean?

Posted on 20 August 2007

Hi,

Good question, I'll get it put on the glossary!

Rental cover is the rent coming in and paying the mortgage. So, for example. if your mortgage payment is £200 a month and the lender asks for rental cover of 115%, you would need to have a rental cover of £230 (which is 115% x 200).

Katie

Categories: Buy-to-let, Let-to-buy, Special circumstances

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