We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Mortgage For Buying Off-plan
bigpat
Posts: 341 Forumite
Does anyone know whether it is possible to get a mortgage if you have the specific intention of selling the property within a fairly short timeframe? Or if if it IS possible, are the rules any different?
I'm considering buying a flat off-plan (i.e. before it's built) and then selling on, hopefully for a profit within about 18 months. I could not afford a mortgage on this property long term (I already have a house, which I'm not selling), though my savings could handle it for about two years.
So, will a lender relax their rules on income multiples or likely rental values for me, because I have no requirement to keep the property long term?
Grateful for any advice or pointers.
Pat.
I'm considering buying a flat off-plan (i.e. before it's built) and then selling on, hopefully for a profit within about 18 months. I could not afford a mortgage on this property long term (I already have a house, which I'm not selling), though my savings could handle it for about two years.
So, will a lender relax their rules on income multiples or likely rental values for me, because I have no requirement to keep the property long term?
Grateful for any advice or pointers.
Pat.
0
Comments
-
If it helps people on our new estate have been selling their large houses barely 18 months after they originally purchased them and moved in. Don't know if they are mortgaged, but at the moment there are roughly 6 properties for sale.Baby Year 1: Oh dear...on the move
Lily contracted Strep B Meningitis Dec 2006 :eek: Now seemingly a normal little monster. :beer:
Love to my two angels that I will never forget.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604.1K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards