Equity Release PPR for Buy to Let

R

robd

Registered User
Messages
142
Anyone know what the state of play us re equity release from PPR to fund deposit part of a Buy To Let is.

Bank of Ireland said they don't do it as would mean you are taking a 100% which seems inaccurate and stupid.

LTV is approx 35% at moment after a timely purchase with significant deposit a few years back.
 
Well they are not inaccurate in that you are borrowing 100% of the cost of the buy to let. I think that type of lending died with the tiger.
 
The banks don't seem to be very interested in security anymore, can you blame them. It all about repayment capacity from salary.
 
cremeegg said:
The banks don't seem to be very interested in security anymore, can you blame them. It all about repayment capacity from salary.
Click to expand...
Repayment capacity wouldn't be an issue (even ignoring rental income). Total borrowings would be below 3.5 times combined salaries. Total LTV would be below 60%. All seems mad to me, given rental property shortage. Guess this is the reason for shortage.
 
You must log in or register to reply here.
Back
Top