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Commercial Mortgage for Auction Property
dasherwo
Posts: 15 Forumite
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
Any advice, greatly appreciated
0
Comments
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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.Motto: 'If you don't ask, you don't get!!'
Remember to say thank you to people who help you out!
Also, thank you to people who help me out.0 -
Did you buy it without arranging the funds first?0
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