Compare Coventry Buy To Let Mortgages
Features of Coventry buy to let mortgages include:
- Up to £1m loan advance
- Interest calculated - Daily
- Maximum age of 75 at end of mortgage
- It is essential that properties are leased to either one occupant or a single family unit. Letting to students must be no more than four individuals.
- If a property has more than one kitchen or has been drastically converted, you may not be eligible for a buy to let mortgage.
- You are allowed to let three properties (three per household with the Coventry building society)
- If you have built or recently converted a property you will be expected to pay a maximum of 50% LTV
- To remortgage a property you must have owned the property for at least six months to be eligible
- If you decide to take out a loan with the Coventry building society, you must be able to pay 125% of your monthly mortgage interest to cover the cost of repayment.
Some other general points regarding the buy to let policies of Coventry Building Society that you should be aware of are listed below. You should compare these details with those of other providers’ policies to guarantee that you find the best deal for you.
- Over 21 years of age
- Employment for at least three months
- Self-employed for minimum of twelve months
- Retired with private pension
- Net income minimum of £25,000