BTL "Buy to Let" Mortgages still Available?

[TLC]

Does anyone have any suggestions for switching an existing interest only mortgage from our family home - which we intend to sell to buy a bigger house - to another property which we own outright & is currently rented out. Halifax who we have had the mortgage with for the last 5 years refuse to transfer the mortgage to this property? Any information or advice about interest only good deals would be appreciated.


Thanks

 

[cromulent]

Re: Buy to let Mortgages still Available?

The risks from the lenders point of view are higher on an IP than a PPR.

Why would Halifax expose themselves to a higher level of risk?

What interest rate are you currently paying on your IO mortgage? How does this compare to rates currently on offer for residential investment mortgages?

What would the LTV be on your IP if you transferred your mortgage to it? Deduct 50% from the 2006 value to arrive at the valuation the banks are using for LTV purposes.