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Commercial Mortgage for Auction Property

dasherwo
dasherwo Posts: 15 Forumite
in Mortgages & endowments
I have recently purchased a property through auction and wondered if you can get a commercial mortgage to pay for this? I can't get a buy-to-let mortgage as the property has a sitting tenant - a regulated tenancy, so they can live there for life.

Any advice, greatly appreciated

Comments

  • TEDDYRUKSPIN
    TEDDYRUKSPIN Posts: 1,528 Forumite
    Unfortunately no. You will have to free up equity from your own property. No bank will touch this property as they will not be able to kick the tenants out upon repossession of the property.
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  • hearts
    hearts Posts: 1,191 Forumite
    Did you buy it without arranging the funds first?
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