This is not a misprint.  You really can get an 85% LTV buy to let mortgage.  Now before you start running and screaming down your street “BUY TO LET IS BACK” here is how you qualify:

 

• Minimum value £150k
• Rate 6.99%
• Max loan 70% of Market Value

 

So not so great if you are a low value high yielding junkie however not bad if you are thinking of investing in London. 

 

Come to think about it.  If you were to find a property that:

 

values at £150k

you can buy for £123,500

and rent for £1029 per month

 

then you have just found a 10% yielding property which can be bought with an 85% LTV buy to let mortgage.  Very reminiscent of the buy to let era of 2000 to 2007.

 

However you still need to find a deposit of £18,525 to get involved.  The problem is it is possible to buy no money down using various legal no money down schemes so the real trick is combining this mortgage with a no money down scheme.

 

I am sure one is about to arrive this week and then all the deals we find that value at £150k+ will result in large cashbacks.  Very exciting.  So if you run a no money down scheme please hurry up!

 

Now for those who feel uneasy about doing a no money down deal and just want a straight 85% LTV buy to let mortgage then consider this mortgage.  All you need to do is find a property that will value at £150k and will rent for £1,000+ and you can buy for £123,500. 

 

Typical properties will be:

 

Flats in London

Semi-Detached in nice cities and towns in England

Detached in good towns and cities in UK

 

So if you are looking to up the quality of your portfolio and want to dive in while prices are good then now could be the time.

 

If you want access to this deal please consider becoming an Ahuja Client.  It starts from only £299!  Contact us now.

 

Ajay

 

 

Posted on: 22nd Nov 2009