BTL Mortgages 2013

**d000hg** · 4 February 2013, 11:03

3.19 for a BTL mortgage is pretty amazing... what LTV?

**MarillionFan** · 4 February 2013, 11:08

Originally posted by d000hg View Post

3.19 for a BTL mortgage is pretty amazing... what LTV?

Meh. Fooking stupid MoneySuperMarket.Com. Phoned up and it doesn't exist. Looked back and MSM and it through up a normal residential rate as part of the BTL search.

Still good opening rate for someone though.

**eek** · 4 February 2013, 11:10

Originally posted by MarillionFan View Post

Meh. Fooking stupid MoneySuperMarket.Com. Phoned up and it doesn't exist. Looked back and MSM and it through up a normal residential rate as part of the BTL search.

Still good opening rate for someone though.

Do you have a mortgage on your current property?

If you don't you could put your mortgage on that and use the cash on the BTL. You can claim tax relief on the interest as I did that in the past.

**MarillionFan** · 4 February 2013, 11:15

Originally posted by eek View Post

Do you have a mortgage on your current property?

If you don't you could put your mortgage on that and use the cash on the BTL. You can claim tax relief on the interest as I did that in the past.

Already doing that for one property. The interest on my mortgage is 0.98%. I've got one done in Trowbridge with a building plot. I've got the money to build the new house as well, but was doing some calculations on what to do with the equity that would be tied up in them (ie. remortgage, buy some more BTLS). The numbers stacked up brilliantly with the original offset mortgage(but it's not a BTL), with the best BTL mortgage on the market the numbers aren't stacking up. Need a 7%+ return for it to make sense. 10% would be the best.

Oh well, back to the drawing board.

**Martin@AS Financial** · 8 February 2013, 12:49

Originally posted by MarillionFan View Post

Already doing that for one property. The interest on my mortgage is 0.98%. I've got one done in Trowbridge with a building plot. I've got the money to build the new house as well, but was doing some calculations on what to do with the equity that would be tied up in them (ie. remortgage, buy some more BTLS). The numbers stacked up brilliantly with the original offset mortgage(but it's not a BTL), with the best BTL mortgage on the market the numbers aren't stacking up. Need a 7%+ return for it to make sense. 10% would be the best.

Oh well, back to the drawing board.

How much deposit are you looking to put in? There are some good BTL products about presently available.

**sasguru** · 8 February 2013, 13:36

Originally posted by Martin@AS Financial View Post

There are some good BTL products about presently available.

No, Martin, a BTL loan is not a "product", it's a massive debt hanging over your head that you have to pay off eventually, somehow

**d000hg** · 8 February 2013, 13:38

Of course it's a product just as a derivative or a bond is a product. If you find the idea of a loan product hard to understand, I wouldn't be surprised though.

**sasguru** · 8 February 2013, 13:40

Originally posted by d000hg View Post

Of course it's a product just as a derivative or a bond is a product. If you find the idea of a loan product hard to understand, I wouldn't be surprised though.

Thick people like you are why the country is in the state it's in.
What has been produced when a bank lends you money?

**d000hg** · 8 February 2013, 13:42

Scary to think someone who can't understand a loan is supposedly involved in complicated statistical analysis.

"There's only a 1 in 10 million chance this burger could be more than 1% horse. Or is that 1 in 10, all those zeroes are pretty confusing..."

BTL Mortgages 2013