I had a very interesting meeting with my broker Liz yesterday.  She is just in the process of dotting the i?s and crossing the t?s on 3 lenders who can offer the following buy to let mortgages:

 

• Min value £33,333
• No 6 month rule so bridge and remortgage possible
• Rates from 2.5% (yes 2.5%!!!!!)
• 75% LTV

 

So if you can find a deal that will value at £33,333 and you can buy it for £25,000 then hey presto you have a no money down deal.  And guess what the monthly mortgage payment could be?  Well:

 

2.5% x £25,000 / 12 = £52

 

The only problem with these mortgages are they only allow you a small period interest free.  So they are repayment mortgages so a higher repayment will kick in after the introductory interest free period.

 

It is these sort of products that make us millionaires.  They are little known products as they are not heavily advertised and really only available for experienced landlords.

 

So if you are one of those then lucky you!

 

If you want access to these sort of mortgage deals why not consider becoming a client?  Request a callback.

 

Oh and by the way Michelle sent me a deal she wanted you to know about.  No pic but still a great deal.  View Property Report.

 

Ajay

Posted on: 28th Apr 2009