Mortgages for Business: There are plenty of 75% LTV deals

Date:Wednesday 8th October 2008

There are still plenty of mortgages available for loan-to-value rates of 75 per cent and below, it has been claimed.

Mortgage Introducer reported the statement by Mortgages for Business, which said many products are available in the buy-to-let sector for landlords who have deposits of 25 to 35 per cent.

But there are fewer options available for people with smaller deposits and rates are also higher on such deals.

David Whittaker, managing director of Mortgages for Business, warned landlords that most lenders will limit borrowing to around 75 per cent of the property value "for the foreseeable future".

Mortgages for Business has around 130 buy-to-let mortgage deals available and expects to increase this number before the end of the week.

The mortgage broker firm specialises in buy-to-let and commercial mortgages.

In 2007 it funded over £2 billion of buy-to-let mortgages, as well as launching its home mortgage arm for homeowners and first-time buyers.