Buy to Let Mortgage with 15% Deposit

Latest Deal - NatWest 2 Year Fixed BUY TO LET » NatWest Mortgages

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1.84%Reverts to 4.49% after 2 years


Overall Cost for Comparison 4.20% APRC. This is the cost of the mortgage over the full term. Early redemption charges may apply.

Compare 15% Deposit Buy To Let Mortgage Deals

The buy to let mortgage market has changed significantly in the last few years with many lenders withdrawing and those that are left applying strict lending criteria to buy to let customers. For a selection of buy to let mortgage deals see the table below:

Buy to Let Mortgages - 2 Year Fixed Rate Selection

Provider

Type

Initial Interest Rate

Initial Term

Max LTV*Product Fee 
Fixed
Buy-to-Let

1.84%

Reverts to 4.49%

2

Years

60%

YesMore Info >
Early redemption charges may apply. Overall Cost for Comparison 4.20% APRC. This is the cost of the mortgage over the full term.

Representative Example:


A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.


The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).


In this example the overall cost for comparison is 3.7% APRC representative.


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Buy to Let Mortgage Deals - 90% LTV
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Representative Example:


A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.


The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).


In this example the overall cost for comparison is 3.7% APRC representative.


YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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Buy to Let Mortgage with a 15% deposit

Generally speaking, lenders require a minimum deposit of around 20-25% for buy to let mortgages, a higher deposit will often mean a better deal for customers in terms of the rates on their repayments. A buy to let mortgage with a 15% deposit deal currently will be hard to find however a specialist buy to let broker may be able to help.


If a lower 15% deposit for a buy to let mortgage cannot be avoided, there are some steps that be taken in order to reduce the cost of repayments. For example, demonstrating to the provider that you have a reliable source of income may go some way to reducing these premiums. A good credit history, without any bad debts, missed payments or outstanding loans may also reduce the cost of your buy to let mortgage.


Currently getting a buy to let mortgage deal with a deposit of 15% is very difficult as lenders do not have the appetite for higher risk lending. The maximum loan to value offers currently require a 20% to 25% deposit.

 

For high ltv loans we suggest you speak to a specialist buy to let mortgage adviser - see the above link.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above mortgage products highlighted on this website are available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you speak to an independent mortgage broker