Posted on 13 March 2014 by Jackie
I own a piece of land which I have built a house on. It has no mortgage on it, I would like to know if I could get a buy to let mortgage on this property?
From the brief detail in your query, if the property's being rented out, then I can't see why you couldn't raise a Buy To Let mortgage on it.
Most lenders are okay with lending on newly built homes, and Buy To Let lenders will need to see that the rental income generated will cover their calculation, which for a typical lender will be 125% of the monthly mortgage payment at a notional rate of 5%.
If you'd like to discuss your options in more detail, then please contact one of our consultants on 0344 346 3672 and they'll be able to give you an idea of how we can help.
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