O/T Let To Buy Mortgages

[Toadstool]

Anyone on here know anything about them?

My understanding is you have two montages with the same lender - your existing property moves to a Buy-To-Product than is covered by the incoming rental.

The second property is just like a normal mortgage.

Questions I have:
Can the buy to let be interest only?
What sort of LTV is required on each property?
Can you use equity in Property1 and collateral for Property2?

[GL1Blue]

I can't help with all the answers, but I know people who have second properties as rentals and they are interest only. The rental income more than covers the bills they have on those houses and the money is made when the house rises in price and they sell.

[WJ99mobile]

I believe;

Yes most people do interest only
Generally 25% deposit
I believe you can but will be reviewed in affordability/eligibility
Don’t think you have to have it with the same lender