Can you get 80% LTV buy to let mortgages?
Yes, some buy to let mortgages have a loan to value (LTV) of 80%. You could get one to:
Buy a new property to rent out
Remortgage your existing property with a better deal, e.g. if your fixed rate has ended
Some deals with an 80% or more LTV are only available to existing customers or can only be used for remortgaging. But some can be used to buy a house if you are a first time landlord or want to add a new investment property to your portfolio.
What are 80% buy to let mortgages?
You can use a buy to let (BTL) mortgage to buy a property to rent out to somebody else. You cannot use a normal mortgage for this.
An 80% LTV mortgage covers 80% of the value of the home you buy with it. For example, it would cover £120,000 of a house valued at £150,000. You would need to cover the remaining 20% with either:
How buy to let mortgages work
What is a “buy to let mortgage 20 deposit”?
This is another name for an 80% buy to let mortgage, because to take out an 80% loan you need to put in a deposit of 20%. Hence the term “buy to let mortgage 20 deposit”. Other names include “20 buy to let mortgage” and “80 btl mortgage”.
Where to find 80% BTL mortgages?
The deals in this comparison have an LTV of 80% or more. This means you only need a 20% deposit. Compare these 80% deals by checking the interest rate, maximum LTV and the fees that come with each mortgage.
Can I get an 80% BTL mortgage?
Some lenders will let you take out a buy to let mortgage with a 20% deposit. It depends on your circumstances. You can increase your chances of getting an 80% BTL mortgage by:
Owning your own home and/or be paying off a mortgage
Having a very good credit score
Earning at least £25,000 a year.
Being able to pay your mortgage off by the time you are 75
Being able to prove you can afford the mortgage repayments
Having a plan in place in case of rental voids and to cover property repairs and maintenance
How to choose the best 80% LTV mortgage
Check the cost of each mortgage by looking at: