Santander has a range of Buy to Let mortgages starting with a 25% deposit. At this deposit, rates start from Bank of England Base Rate 0.5% plus 3.05% give a current pay rate of 3.55%. After the two years it reverts to the lenders standard variable currently 4.74%. Other options available.
The arrangement fee is fixed at £1499 as is added to the loan. This makes the product more attractive the larger the loan. Their lending criteria is different to most Buy to Let lenders as they take into account the need to cover voids and budget for ongoing repairs.
Other points to note is that they will decline all HMO lending and self employed applicants.
What other lenders offer?
Will actively lend to HMO’s and SPV’s.
Available up to 85% loan to value
Lend against the pay rate not nominal rate. (gives ability to borrow more funds)
No minimum income requirements for experienced landlords.
First time land lords who are first time buyers.
Contact me for the latest rates and criteria on all buy to let lenders.
Unusual cases are our specialty.
Why use Neil Soundy Financial Services for your mortgage advice in Cardiff.
We are different.
We offer at least twice the choice of mortgages compared to a standard broker.
View the video on our homepage that explains how mortgage advice has changed.
We will give you expert impartial advice.
Contact us today for a free no obligation initial discussion or meeting.
Neil Soundy Financial Services Ltd is an appointed representative of HL Partnership Ltd which is authorised and regulated by the Financial Services Authority.
The Financial Conduct Authority does not regulate some forms of buy-to-lets.
We do not give or imply legal or taxation advice. We recommend you contact a solicitor or accountant for advice in these areas.
Think carefully before securing other debts against your home/property. Your home/property may be repossessed if you do not keep up repayments on your mortgage.
