The Independent Buy-To-Let Company, the independent
specialists in buy-to-let finance, can recommend 3 lenders
which will accept up to 15% gifted deposit. The key features of the main deal are:
• 85% mortgage using 15% gifted deposit
i.e. open market value of property: £100K then loan amount equals to
purchase price of £85K
• Maximum loan £500,000 and 25% maximum
site exposure
• Maximum lending per client £1,000,000
and 4 properties per client
• Rental calculation based on 115% at the societies variable rate of Libor
4.7% + 2% = 6.7% (as of 01/01/06).
The main criteria is that the applicant must own or have a mortgage on the
main residence.
Moreover, the rate is competitive and there is no extended tie-in after the
tracker period.
This new scheme has been long awaited and is a breath of fresh air for the
developers’/builders’ and property investors’ community.
As well The Independent Buy-To-Let Company has two other deals accepting gifted
deposits/discounts…
Contact:
Pierre Stracuzzi
Phone:
0845 166 5496 or 0208 981 7722
Email: pierre@thebuytoletcompany.co.uk Website: www.thebuytoletcompany.co.uk
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