Compare Royal Bank of Scotland Buy To Let Mortgages
Royal Bank of Scotland buy to let mortgages lending criteria is outlined below:
- Up to £3.5 million loan advance
- Minimum property value - £50k
- Maximum LTV - 75%
- Maximum age of 65 at end of mortgage
- Lending coverage - Great Britain
- Interest calculated - Daily
Once you have found a mortgage for your buy to let property you can begin renting it out to your tenants. Hopefully you will have given some thought to the type of tenants you are going to be aiming for, and this will have fed through into your choice of mortgage deal. Most buy to let mortgage providers will base their decision on your expected future rental income to make sure that your monthly repayments are covered. The usual figure cited is that your rental income should equal at least 120% of your monthly repayments.
Originally founded in 1727, Royal Bank of Scotland are one of the UK's largest banks providing branch and banking facilities for many customers throughout the UK. Parented by the Bank of Scotland Group, the bank offers a variety of different loans, savings and investment facilities.
For more information on Royal Bank of Scotland Buy To Let Mortgages call FREE on 0800 096 7447