Skipton
Building Society Commercial Mortgages
Skipton Building Society Commercial Mortgage
Brokers
If
you are currently considering an additional mortgage to invest
in further property with the intention to let, whether it’s
a house, cottage, or flat, search no further. This unique
mortgage has been specially designed with you in mind and
allows you to confidently build a portfolio of investment
properties.
How you can benefit with the Skipton Building Society Commercial
Buy-To-Let Mortgage?
- Up
to 80% loan to value (70% max in London)
- No
compulsory insurance
- Attractive
rates
- Rent
or expected rent must cover mortgage interest by 1.5 times
- Applicant
must be a current homeowner
- Applicant
must have minimum salary or profit before tax of £20,000
- Only
available to limited company investors and individual landlords
with more than 3 investment properties (including current
purchase)
So
for example, on a £50,000 repayment mortgage over a
25 year term, you could only pay £330 per month at the
current LIBOR rate. This provides a sound basis for you to
invest in a better future.e
How
Much Can I Borrow from Skipton Building Society?
You
can borrow up to 80% of the valuation or purchase price (whichever
is the lower). You should be a current home owner and be in
permanent employment, earning a minimum main salary or before
tax profit of £20,000 pa. The rent, or expected rent,
must cover the mortgage interest by 1.5 times.
If the property is not already tenanted, you will need to
satisfy additional underwriting criteria based on income and
existing mortgage commitments.
This
Skipton Building Society Buy-To-Let Mortgage offers a normal
maximum loan of £500,000, irrespective of the number
of properties you purchase. The Society will be pleased to
consider loans of up to £2,000,000 to first class applicants
with a proven track record.
For
further information on a Skipton Building Society Commercial
Mortgage visit the Skipton Building Society website.
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