Cheltenham
& Gloucester Buy-To-Let Mortgages
Cheltenham & Gloucester Buy-To-Let Mortgage
Main
features and benefits of a Cheltenham & Gloucester Buy-To-Let
Mortgage:
- Cheltenham
& Gloucester will lend up to 75% of the rented properties
value
- They
will take 50% of the rental income into account when deciding
how much they will lend you.
- Available
on mortgages totalling £20,000 or more
- Available
on Homeowner Loans totalling £10,000 or more
What
rate of interest will I pay?
You can choose from any of Cheltenham & Gloucester's current
mortgage range.
Criteria
As well as Cheltenham & Gloucester's usual mortgage
requirements, if you choose a Buy to Let Mortgage, there are
certain criteria that they ask you to meet.
The
property must be let under an assured shorthold tenancy for
no longer than one year at a time.
You must let the property through a professional letting agency
and there should be no connection between you and the agency.
You
should also know that:
Cheltenham
& Gloucester cannot accept guarantors for buy to let.
You
can have mortgages for a maximum of three buy to let properties,
plus one residential property within the Lloyds TSB group.
If
you are moving your existing buy to let mortgage from another
lender to Cheltenham & Gloucester, they will give you
£150 towards your legal costs.
For
further information on a Cheltenham & Gloucester Buy-To-Let
Mortgage visit the Cheltenham & Gloucester Website.
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