Posted on 25 September 2012 by George
Can I get a btl mortgage on a purchase price of £30k in Northumberland. I have 32 btl properties and have just found some I can buy for £30k but cant find mortgages, any ideas as I would like to carry on buying at approx 10 a year.
I am not aware of any Buy to Let (BTL) lenders with a minimum property value of less than £50,000. The only way I think you will be able to buy these would be by raising capital on your existing portfolio and how much you can get will depend on how highly geared you are already.
I do not know if you are familiar with the area you intend to buy in, but remember that as far as a successful let is concerned location is everything. Don't be attracted by the relatively cheap prices without doing your homework first.
Please call 0344 346 3672 and talk to one of independent mortgage consultants, give them the date and title of your question, they will then be able to help you find out how much can be released to fund these purchases.
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