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Buy-to-let second mortgage calculation

followtheheard · 2015-06-21 13:01:08

I own an apartment and I’m now thinking of a small buy-to-let to rent out. How do banks calculate the amount you can borrow? There is no 3.5 earnings limit I assume? but they must take into account my existing gearing on my owner-occupied apartment.

21-06-2015 1:01pm

#1
followtheheard

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I own an apartment and I’m now thinking of a small buy-to-let to rent out. How do banks calculate the amount you can borrow? There is no 3.5 earnings limit I assume? but they must take into account my existing gearing on my owner-occupied apartment.

Tagged:

mortgage buy-to-let

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Comments

#2 22-06-2015 12:52pm

Michael D Not Higgins

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There's a max 70% LTV for BTL mortgages. Apart from that it's down to the individual bank's risk assessors and their own criteria which will differ from one to another.

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