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80% LTV on BTL purchase for landlord with 30+ rental properties

A longstanding client of Mortgages for Business approached us for help in expanding his already large property portfolio of 30+ properties.

He was looking to purchase a 2-bed semi, in good condition in a popular Yorkshire town but only had limited funds for a deposit.

Because of this and the considerable size of his portfolio, we approached a specialist lender which agreed to lend 80% loan to value.

The product was particularly appealing to the client because there were no lender arrangement fees, which is unusual for buy to mortgages.

Here are the details:

Property value: £125,000

Loan amount: £100,000

LTV: 80%

Product: 5.68% 3 years fixed

Term: 15 years interest only

Rental income: £600 pcm

Gross yield: 5.8% pa

Mortgage payments: £473 pcm

Lender arrangement fee: £0

Consultant: Andy McOwat

Consultant tel: 01625 416396

Consultant

NB: ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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