We were approached by a part-time landlord with a small property portfolio.

He was looking for finance to purchase a new buy to let property; a semi-detached 3-bed house on Merseyside.

The challenge for us was to find a lender that would accept the client’s small income of less than £25k pa and allow him to borrow 80% loan to value.

Not many lenders allow this combination of factors.

Fortunately we were able to source a rate from one of the challenger banks which was happy to offer the following deal:

Property value: £136,000

Loan amount: £108,800

LTV: 80%

Rate: 4.48% loan term tracker

Term: 25 years interest only

Lender arrangement fee: 3% (£3,264)

Mortgage payment: £418 pcm

Rental income: £650 pcm

Gross yield: 5.7%

Consultant: Andy McOwat ,  01625 416396