I'm thinking of buying a flat of around $1.6M to rent out and have some questions about the mortgage terms.
I have just checked my Transunion rating is "A".
1. Do banks offer 70% mortgages if I declare outright that the flat will be let?
2. What is the "penalty" interest for rental property vs self-use? Can I expect P-2.5/2.75% with my good rating?
3. Can I formally apply to the banks before I have a provisional S&P?
4. If necessary to get a better rate, what if I "live" in the property for a month or two and then let out? Would I need the consent to let if the mortgage is only 60%
Thanks for any replies.