Lending on Buy To Let mortgages

[chrisknight]

I am trying to get a mortgage on a buy to let proerpty in london, prices are lower than ever and rents are quite strong in the area i am hoping to buy in....but i have just been told that all (most) buy to let mortgages now carry a 65% loan to value on them..

this means i would now have to come up with 35% of a deposit.....

i want to buy, i want to employ a builder to fix up the place......but i cannot come up with such a huge deposit...

i thought it was meant to get easier to get finance, what with all the tax payers (mine) money going into the kitty....

regards
chris

[DaveMayers]

Yes it's correct that the buy-to-let mortages carry a 65% loan to value on them now.
You should study the market in you area because you can find deal which can handle even the 65%.