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Re: Buy to let mortgage, high LTV for unemployed (student)

  •  Mon, Sep 10 2007, 12:58 PM

    Re: Buy to let mortgage, high LTV for unemployed (student)

    Most BTL needed a 15% deposit as far as I am aware?

    On 90% LTV:

     On a 25 year mortgage = £1818.77 (6.0%)

    On a 25 year mortgage = £1923.73 (6.6% - more likely) Total amount payable approx £577,119

    Void months etc - you may have 1-2 rooms vacant for 2-3 months or so. could you cover the additional payments on the mortgage?

    IMO I think that if you do get a mortgage you will pay over the odds because of your financial status (no income) and this would be a high risk.

    If your adamant on  BLT, I would suggest you try something cheaper or perhaps wait until you have a job.

    Best of luck whatever you do

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