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Quick mortgage turn around?
silvercar
Posts: 49,799 Ambassador
In order to complete the chain on my house purchase I am looking at buying the property at the start of the chain where the buyer has dropped out. This has the advantage that I can keep the chain intact and sell my own house to buy the house I want.
If this is going to work in time to dave my house purchase I need to find a lender that can give a mortgage offer quickly.
Basic details are BTL mortgage, 20% deposit, mortgage covered by rent by 130% say.
Which BTL mortgage providers will work quickly (3 week application to offer?).
Specifically I have a good relationship with Natwest are they rated?
Also someone said avoid having your residential mortgage with the same lender as your BTL. Why is this? (BTW I already have my mortgage offer on my house purchase)
If this is going to work in time to dave my house purchase I need to find a lender that can give a mortgage offer quickly.
Basic details are BTL mortgage, 20% deposit, mortgage covered by rent by 130% say.
Which BTL mortgage providers will work quickly (3 week application to offer?).
Specifically I have a good relationship with Natwest are they rated?
Also someone said avoid having your residential mortgage with the same lender as your BTL. Why is this? (BTW I already have my mortgage offer on my house purchase)
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Comments
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Not sure of the suitability of them (before everyone says about rates and t&c's) but one of the fastest out there in my experience would be Birmingham Midshires.
They did and urgent one for me last month, application (on line) to offer in 5 days.
Depends what you would be looking to do with the property once you had completed, ie keep it or sell it on.
Andy0
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