The Sunday Times - Here’s how to pick a winner in the buy-to-let mortgage lottery
Research for The Sunday Times by the mortgage broker Trinity Financial highlights how lenders offer wildly different maximum loan sizes. A landlord collecting rent of £1,250 a month from their tenants could borrow £463,320 with Clydesdale Bank but only £200,333 with Virgin Money for Intermediaries.
Aaron Strutt of Trinity Financial, told The Sunday Times: “More lenders are offering buy-to-let mortgages but the market can be very confusing. Maximum loan sizes often vary wildly and many borrowers therefore cannot secure a large enough loan to buy their property.”
“The problem is lenders use a range of calculations and some are much more conservative than others. Many lenders don’t make it clear what rental calculation they are using, even though it is a fundamental part of the deal.”
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