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  • Mortgages & Finance

    85% LTV Buy to Let Update

    If you can Christopher that wise.

    It's more for landlords who enjoy the idea that funds in your wallet, can work harder for you than the % cheaper rate. You wouldn't want to use it for a Holiday or a Flashy Car but making it work for multiple purchases (Leveraging), development, property improvements/extensions/conversions and so forth.

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    The above post is not financial advice, its often me rambling - passing time on a coffee break.
    If you are looking for the Best BTL Mortgage? Call the Specialist Team at Bespoke Finance.


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    As an example on a £100k mortgage 75%LTV. Money Supermarket comparison site - 4.49% fix for 2 years = £268.12pcm. The best deal was Virgin Money - 1.73% fix for 2 years = £108.12pcm. So a 60% decrease on monthly mortgage payments. It will be even worse on 85%LTV. Maybe >£300pcm @ 85%LTV which is terrible. The obvious choice is to save £10k and then choose the 1.73% deal, increasing your cash flow by ~£190pcm or more. £10k investment = >22.8% return over 1year.

    I take on-board your point about multi-purchasing and development, but given the numbers I'd be inclined to choose the 'lazy' option.

    Please note: Some broad brush assumptions made

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    Hi,

    Can someone recommend a good broker that specialises in Bridge Financing?

    Thanks,

    Chris

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