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.