Uk but to let mortage

Gary 23

Registered User
Messages
56
Hi
I was wondering if anybody could tell me what kind of uk buy to let mortgage i'd be able to qualify for as an Irish/non uk national.

Yours
Gary
 
Hi Gary,

The max mortgage you'll be able to get from a bank / building society in the UK is 75% of purchase price.

biggerry.
 
I have just organised a 85% Buy To Let mortgage with UlsterBank in Northern Ireland - @ 5.49% interest-only.

They will lend 85% max for investment property in NI, 80% max if in other parts of UK.

They also use a different set of criteria than most banks when deciding how much they will lend - instead of the traditional "the mortgage repayments cannot be more than 125% of the monthly rental income" rule, they instead take your own disposable income, and add 70% of the monthly rental income to that. Then they apply the usual 35% of total net monthly income rule to your total borrowings and derive the max loan amount from that.