Coventry
Building Society Buy-To-Let Mortgages
Coventry Building Society Buy-To-Let Mortgage
For
more and more people, buying property to rent out for profit
has become a popular investment option. The benefits of additional
income coupled with the potential for long term capital growth
can be very compelling. If you decide to become a landlord,
Coventry Building Society Buy to Let mortgages enable you
to invest in the property market on very attractive terms.
Alternatively,
if you have a current Buy to Let mortgage with another lender,
you may be able to get a lower cost deal or free up some equity
on your property by switching to Coventry Building Society.
Coventry
Building Society Buy to Let mortgages are available to anyone
who’s 25 or over, employed or self employed, with an
annual gross income of £20,000 or more.
You
can borrow any amount from £25,001 to £300,000
on a single property. The maximum number of rental properties
you can have is five and the maximum loan limit is £500,000
in total. These limits apply only to Buy to Let mortgages
you have with Coventry Building Society.
Coventry
Building Society require a minimum deposit of 15% of the purchase
price or the valuation (whichever is the lower amount).
The
rental income from your let property must be at least 130%
of your mortgage interest for that property. For example,
if your monthly Buy to Let mortgage interest is £200;
your monthly rental income should be no less than £260.
For
further information on an Coventry Building Society Buy-To-Let
Mortgage visit the Coventry Building Society Website.
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