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9% BTL mortgage interest only rate???!
goslingl12 posted a topic in Mortgage AdviceHi guys- I need your advice and opinions please, My situation is slightly unique in that I'm: (i) a first time buyer, (ii) a contractor, (iii) am planning to purchase through a ltd company. I spoke to an L&C broker over the weekend regarding potential mortgage options for a BTL mortgage, and after inputting all my details, they returned just one potential lender requiring 9% interest only over 3yrs. Obviously these numbers don't work! It's rather discouraging to hear that this is my only option out there... Does anyone know of any other potential lenders who would sound out a first time BTL investor in my position? Thanks!