Buy to let deposit
7:33 AM, 17th February 2014, 13 years ago
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I would like to ask why lenders require buy to let landlords to have a 25% deposit whereas residential borrowers only 10%?
I would assume, if both a BTL landlord and residential purchaser defaulted, it would be more risky for a bank to get back their funds [loan] via from a residential purchaser as it would have a higher LTV.
So what is the reasoning for this?
Thanks
Danny
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Mortgage company will not allow me to let
Member Since August 2013 - Comments: 126
5:41 PM, 17th February 2014, About 13 years ago
Reply to the comment left by “Jerry Jones” at “17/02/2014 – 14:34“:
No different to Starbucks charging £3 for some boiling water and a touch of milk.