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Buy to Let tough barrier scenario's?

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  • Buy to Let tough barrier scenario's?

    I currently have a buy to let mortgage in principle that states a minimum lend value by Halifax. Is this the same throughout typical lenders?

    My frustration is related to repo's coming on the market presenting a great opportunity to buy, however, if a purchase is made less than 40K Halifax will not lend?

    Some repo properties at the low end of the market 40-50K, now appear out of the question unless I purchase for the minimal lend or above minimising the scope for negotiation?

    I have two key scenario's I would love some insight on?

    1. I have 10K deposit which is 25% of a properties agreed sale at 40K, my mortgage therefore will be on the remaining 30K, will the banks still lend @30K?

    2. I want to place an offer 30% less of the sale price 50K = 35K, of which I have 25% deposit of an agreed sale @ 35K = £8,750, leaving a mortgage of only £26,250.00. Will a buy to let lender offer support at this level?

    Many thanks,