How much deposit on BTL mortgage?Make Text Bigger
I currently have two properties rented out, one of which is unencumbered and I want to leave it that way, the other which has a secured loan against it but enough equity for me to raise a deposit for another purchase.
I’ve been reading about gearing and wondered if I should put down 25% or 40%, obviously the bigger deposit the better interest rate, but what if this goes well and I want to buy more properties in the future? Also once tied into a new BTL mortgage I would have to contend with ERC’s and remortgage fees.
What do you think?
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