A deposit of at least 20 to 25 percent will be required for standard residential buy to let, while, it is believed the best ones are available with a deposit 40% or above. The rates have remained low in the last few years offering the opportunity to get a low fixed-rate loan. The interest cover ratio should be attractive, which means, the monthly earnings should be almost 125% of the mortgage payment.
The overall profit and loss figures can be calculated to get more money or to remortgage the home. The rules also limit the maximum LTV ratios, whereas, the top-slicing method may be adopted by the fund provider to assess the affordability of the buyer. First-time buyer relief and remortgage can get a concession on taxes.