How to get a mortgage if you already own the house?

sbpooks

Can anyone please advise me?
My dad has just helped my husband and I buy our first home. He lent us the money to buy it in cash due to the house being in a poor condition and conditions of sale being that we must complete and exchange in 4 weeks which we managed. We could not have probably got the lender to lend us 80% LTV due to the current condition and the mortgage would have taken some time to progress. We now have the keys and are busy starting work on the house to make it liveable. We always planned to then apply for a mortgage in January to pay my dad back. However after speaking to two mortgage brokers today, they tell me we need to have owned the house for at least 6 months before applying for a mortgage. Can anyone else advise or suggest who we can speak to as we can't wait for 6 months to pay the money back?
Thanks in advance

Sarah

Thrugelmir

You asked 2 mortgage advisors and received the reply I would have expected you to get. However maybe one of the resident mortgage brokers on the forum may have an idea.

happybroker

6 months is pretty much the stock answer on this sort of thing. I haven't looked into this closely recently but if you are performing major renovations and can prove this you may be abel to squeeze it through with some one, certainly you could earlier this year, but it will involve a whole load of research.

Let_Us_See

There are lenders who will provide a mortgage as long as the property is in a habitable condition. It is true many lenders will not accept a re-mortgage within six months of the start of a new mortgage, but as you were a originally a cash buyer a good experienced whole of market adviser should be able to help. Another way around it would have been to "rent" the property from your dad and then apply for a mortgage.