minimum period of ownership for mortgage.

crisp

Hi, I purchased a property recently using cash. I am in the middle of a refurbishment and I was thinking of taking a mortgage on the property and letting it out.

I was told by someone that all lenders now require a minimum of 6-months ownership. Is this correct? I wasnt sure if he meant remortgage rather than ownership.

If not, which lenders will look at shorter periods?

thanks

lisyloo

Why would you want to pay off the mortgage when the interest can be off-set agaisnt income tax?

crisp

you have mis-read it. there is no mortgage at present.