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To answer your questions,
A LTD company mortgage will often attract a slightly higher rate but I have seen better than 4.2% for £100k.
It depends on what the lender is advertising, there may be a FTL deal running but they are pushing another product.
The best thing to do is have a look across the whole of the market, including the intermediary only deals and see what the best option for you would be.
It is however all based on your personal circumstances at the time and not something I can just tell you, are you available for a phone call and I can see what we can come up with?
Financial Consultant working with Property Tribes Financial Services.
Always cover your debts, don't leave them for your loved ones to pick up. Ask me how - email@example.com 07500 871209
What is causing such high rates. Are lenders concerned about your ability to complete on the purchases? It seems a very high rate.
Chartered Accountant, Tax Advisor and Mortgage broker
(and BTL portfolio owner)
"Are lenders concerned about your ability to complete on the purchases?"
I've never heard that of a reason to have higher interest rates. Perhaps you meant something else?
_________________________________________________________________________My posts are not financial advice, just a rambling guy passing time on a coffee break.The team at Bespoke Finance offers advice, including Limited Company Buy-to-Let , HMO Conversion and Cheap Life Insurance._________________________________________________________________________
It is because Chrila said there were a number being bought off plan so there are a number of future capital commitments which may be unaffordable and a lender could be concerned about whether this legal and financial obligations could be met.
I have just left a meeting where we were discussing First Time Landlord LTD Company BTL at 75% LTV at 3.34%.
So 4.2% seems rather high. I'd not want to second guess your other mortgage adviser, they will be furnished will the full facts which may have led them to that recommendation.
Though it's always worth a call to the team at Bespoke Finance on 08009202001 or email firstname.lastname@example.org
It is kind of true that the market leading rates are not available to First Time Landlords. Though a lot of lenders these days are happy with the situation.