Excuse me if this is covered elsewhere (if so, please redirect me) but where can I find out the best rates for a private mortgage (15 or 20 years) for buy-to-let property, with maximum (up to 100%??) LTV?
Most lenders will only lend on a residential investment property with an LTV not exceeding 85%. There are a few circumstances where it is possible to lend on 90% of the LTV. My advice would be to contact a mortgage broker who can go through which option suits you best and this in turn will determine the rates you have access to.
Thanks Jacqueline. There are complications surrounding this, but suffice to say that this does not involve a new purchase, rather its a refinancing, and it is likely that there is at least 10 to 20% equity in the value of the property, with a new mortgage now required. Any views on best rates? So when I said 100%, I meant no desire to put in additional money. Sorry, I should have clarified.
There is a tracker mortgage with a rate of ECB +1% with ICS Building Society. With the current ECB rate of 3.5 this would work out at 4.5% There are a number of other fixed rate options with this lender also. However if you could reduce your LTV to 80% you would have access to better rates in general.