The race is on for a buy to let deal as lenders start to pull higher LTV products.

If you are a smaller deposit buyer looking to invest in property, then the advice is to act without delay. The news is in the wake of the Brexit result, some buy-to-let lenders are temporarily pulling high LTV deals for borrowers with smaller deposits. 

With opinion divided on the effect the out vote will have on property prices, lenders have decided not to take a risk that new borrowers could slip into negative equity.

For this reason, some lenders such as Fleet mortgages, have started to pull their deals at 80% LTV. It’s thought that soon investors will need to put down a 30% deposit. Market experts are advising this is likely to be a short term measure until the state of the UK economy becomes clear.

Not all lenders have introduced this change, and so by acting now you could avoid missing out and bag yourself a mortgage offer. Prior to the referendum vote lenders were slashing their BTL rates, by acting now you could make the most of these offers.

If you want to invest in property and need a mortgage, call a buy-to-let mortgage expert at Deal Direct for no-obligation advice.

Please note:  Deal Direct are fully regulated to offer mortgage advice, but are not regulated to offer advice as to the suitability of property as an investment. For general financial advice you will need to speak to an independent financial adviser.

Buy to let mortgage applications from: 

• applicants whose intention is to benefit from house price growth
• applicants whose intention is to benefit from rental income
• applicants who are letting to buy

will be treated as normal buy to let and not as a consumer buy to let. In addition, their subsequent remortgage applications will also be treated in the same manner.

Call us today on 0800 048 8828 for a buy to let deal.