How much deposit do I need for a buy to let?
03-11-2008

I am looking to buy a flat to rent out and hoped a deposit of 10% would be enough. Can you find me a mortgage with a 10% deposit, if not how much deposit do I need?

Hello Wendy and thanks for your question.
Since the start of the credit crunch buy to let mortgage have become more difficult to arrange. Traditionally most lenders would consider mortgages with a 15% deposit although a deposit of 25% is more typical in the current market. With any buy to let mortgage the rental income is a crucial aspect of the application and may dictate the amount of deposit you need to find.
I would recommend that you discuss your requirements with a whole of market mortgage adviser and suggest that you might like to give us a call.

Thanks for your question

Questions are answered by Lee Dawkins and Chris Baigent of Smaart Associates. The answers are based on the information provided and do not constitute advice or a recommendation under the Financial Services & Markets Act 2000.
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