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Vicki Said:

Letting a house without buy to let mortgage?

We Answered:

They will probably issue a default notice on the mortgage and add penalty interest.

Also your insurance will probably be invalid.

Alicia Said:

Can a person obtain a buy to let mortgage being unemployed?

We Answered:

No. You need proof of income to apply for and get a buy to let (or any) mortgage.

Colleen Said:

Can a buy-to-let mortgage lender evict a tenant BEFORE the property is repossessed from the Landlord.?

We Answered:

I am not sure I understand your question, but normally repossession cannot occur before default on the loan, and the tenant cannot be evicted by anyone but the owner.... after default and foreclosure the owner is the bank.

Jorge Said:

buy to let mortgage on my house?

We Answered:

This is a tax and legal question.

I would consult with a CPA and or a CPA attorney.

Joann Said:

buy to let mortgage deposit % rate?

We Answered:

There are FHA loans with a 3.5% down payment, but I think you are talking about a lease option, or "rent to own" agreement?

Unclear what you are asking, but what does your lease option agreement specify?

It would be assumed that you are in this agreement because you couldn't qualify for a mortgage under conventional means, so perhaps the large down payment has more to do with your credit situation.

Once you are ready to buy the house there are a lot of factors which would determine the amount of a loan you will qualify for.

This is one of the dangers of lease options: if you cannot come up with the down payment or qualify for a mortgage you end up losing what you have put into it.

Colleen Said:

My ex partner lives in the house we bought together.Been told to take out buy to let mortgage, should i,can I?

We Answered:

If you own it, and have not signed anything giving her possesion, live there. Enjoy your child, and the rest of your house. If she doesn't like it, she can move.

Herbert Said:

Can anyone recommend a good Buy to Let Mortgage bank?

We Answered:

My Buy to let Interest Only mortgage is with Platform Homeloans... Searched high and low 3 years ago and got a 0.2% above base rate tracker for the life of the mortgage, with the option to add to my protfolio on the same mortgage deal upto the value of £1 million total investments, at the same rate.
Cant recall the exact deal, but with specialist interest only buy to let mortgages, companies will only lend the amount based on the potential rental income of the property. We had to get a surveyor to agree that we would likely rent it for £450, and it needs to be 125% of the cost of the actual monthly repayments. That was 3 years ago, and things may have changed, so shop around.

Regarding Platform, I am really happy with this company.