UK Landlord Forum / Life

I have a buy-to-let apartment nearing completion, (approx christmas - off-plan) so need a mortgage in place quite soon. The thing is, currently nowhere is giving anything better than a 75%! I've already parted with £8500-£9000 for the first deposit and will need to fork out another £21000 if i cant get a better deal than a 75%. I was thinking i'd be able to get an 85% mortgage...i'm still hopeful of that if i can wait until the last min. Anyone any thoughts/opinions?

25% deposit seems extremely excessive.

Where have you been looking? And what is the best rate you have received for that 25% deposit?

I went to my local mortagage advisor who deals with most of my dealings and she said at the min buy to let rates are crazy and that nobody is giving more than 75%, she said that i was the first buy to let deal she's done in a while. She started rolling off rates but to be honest i was shocked into not even listening to them.

The problem with private brokers is that they aren't made available to all the best deals on the market, so you get limited options.

On moneysupermarket there are a few 80% offers, but have high interest rates.

It's not exactly legit, but I know a lot of people just get normal residential mortgages and then still let their property out...The rates are a lot lower, and the deposits are usually a lot less...

You might be better off going to high street building societies and banks.

I know Natwest offer 85% loan amounts...