Buy to let mortgage for under-25, first time buyer?

j19

Do any mortgages exist? I don't meet the paper criteria for any of the major banks (being under 25), despite being in a very viable financial position

herbiesjp

Can you explain your viable position?

Any figures you can post would be good

theartfullodger

Have you talked to the obvious buy2let brokers???
If so what did they say?
If not, give it a go.. they are motivated (£££ commission) to help you...

Cheers!

Lodger

maninthestreet

What deposit have you saved??

kriss_boy

My financial advisor said all I need to do is get a regular mortgage buy the property as though I intended to live in it myself.... then 3 months later I can legitimately change my mind and decide to let it out...

Or is that fraud?:money:

maninthestreet

kriss_boy wrote: »

My financial advisor said all I need to do is get a regular mortgage buy the property as though I intended to live in it myself.... then 3 months later I can legitimately change my mind and decide to let it out...

Or is that fraud?:money:

You will need to get the mortgage lender's permission to do this.

chambta

JimpsEd wrote: »

Do any mortgages exist? I don't meet the paper criteria for any of the major banks (being under 25), despite being in a very viable financial position

Which lending criteria rules out under 25s?

leveller2911

JimpsEd wrote: »

Do any mortgages exist? I don't meet the paper criteria for any of the major banks (being under 25), despite being in a very viable financial position

Posted at 3:34pm School out by any chance???:D

j19

chambta wrote: »

Which lending criteria rules out under 25s?

"25 years of age or older" - Halifax, Lloyds, Barclays

maninthestreet

So how much deposit have you saved up? Halifax require 25% deposit for a BTL mortage, as well as a minimum income of £25,000.