Buy To Let (BTL) mortgages for Studio Flats

mcmatt

I am looking to buy a house with my other half, but because of the appalling state of the property market at present I am unwilling to sell my studio flat, where I have been living for the past 3 years. It is in a convenient location in South London, I got it at a cheap price when I bought it and according to letting agents would command a very respectable rental income (handy to supplement the pension when I get to that stage).

The problem is, is that most BTL lenders do not offer products for studio flats, especially not ones which are below 30 square metres of interior space (mine is nearer 20). Aside from the fact that I think this is madness, and symptomatic of box-ticking bureaucrats opting for checklists above common sense (these flats go within a matter of days whenever advertised – I find it hard to believe that some 35 square metre dump in Bradford above a kebab shop would be a better investment) I now find myself in a position where I cannot find any Buy to Let mortgages which both:

a) Would be appropriate for studio flats
b) Doesn’t come with crippling set up charges and interest rates


Those to have invited me to sling my hook so far because of the studio element include: The Mortgage Works, UCB Loans, Bristol & West.

So – any moneysavers out there have any suggestions of products that might be out there that I haven’t been able to find yet?

Thanks in advance.

mcmatt

seikothrill

Try Astra - the BTL specialist of Norwich & Peterborough.

Mt studio flat BTL is with them