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Can someone get a Buy to Let Mortgage whilst on a DMP

kali7000
kali7000 Posts: 1 Newbie
edited 19 July 2010 at 5:31PM in Mortgages & endowments
Can someone get a Buy to Let Mortgage whilst on a DMP?

I have heard of people on IVA's getting Buy-to-Let mortgages, but don't know how they managed to get them. Is it through Limited company?

Comments

  • bear1969
    bear1969 Posts: 171 Forumite
    i suggest you should sort out your other finances first before you think about taking on more,It was people like you who got the country in the state it is now ,Try living with what you have and not what you cant afford
  • maninthestreet
    maninthestreet Posts: 16,127 Forumite
    Part of the Furniture
    Why do you want to take on even more debt when you can't cope with your current level of debt?
    "You were only supposed to blow the bl**dy doors off!!"
  • Raggs_2
    Raggs_2 Posts: 760 Forumite
    Tenth Anniversary 500 Posts Combo Breaker
    And assuming you have the necessary 25% deposit for a BTL mortgage, why not pay off some debts?
  • luckyfool
    luckyfool Posts: 1,683 Forumite
    A lender on a Ltd Company Buy to Let is going to credit check and underwrite based on the directors of the company.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    luckyfool wrote: »
    A lender on a Ltd Company Buy to Let is going to credit check and underwrite based on the directors of the company.

    Any there many lenders left that offer BTL loans to Limited Company's ?
  • Pincher
    Pincher Posts: 6,552 Forumite
    1,000 Posts Combo Breaker
    Obviously it should be a 125% mortgage.

    Rent it out straightaway, and don't pay the lender.
    Six months down the line, the bailiffs turn up and chuck out the tenants. Pure profit.

    You need a buddy working in the bank, and a time machine that travels back 15 years.
  • Bullfighter
    Bullfighter Posts: 414 Forumite
    kali7000 wrote: »
    Can someone get a Buy to Let Mortgage whilst on a DMP?

    and we wonder why our country is so f&*cked...
  • Wutang_2
    Wutang_2 Posts: 2,513 Forumite
    Bullfighter wrote: »
    and we wonder why our country is so f&*cked...

    I don't wonder that - and this would not be one of the reasons even if I did.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
This discussion has been closed.
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