Getting BTL mortgage

Thrugelmir

graduatebanker wrote: »

I'm worried about going to see tons of properties, finding the "perfect" btl property and making an offer,

Your investing in a business. So you'll need to do your research which involves some work!

An AIP is not a guaranteed mortgage offer.

graduatebanker

Thrugelmir wrote: »

Your investing in a business. So you'll need to do your research which involves some work!

An AIP is not a guaranteed mortgage offer.

Again your 100% right! I didn't mean to sound like I wasn't happy doing research (in fact I've gotten really into reading up on properties + info on being a landlord over the past few days!) - rather I meant I didn't want to get to the point of making a formal offer on a property if from the start I haven't got a hope in the world of getting a BTL mortgage.

If the broker said there was a good chance I'd be able to get a mortgage, is that something to take comfort in? I mean, I know there's so much more than the AIP - there has to be the valuation + underwriting etc. which I can accept.

I guess I'm just worried of getting everything lined up then falling at the very first mortgage hurdle!

gwernybwch

graduatebanker wrote: »

I asked if I could get an AIP there and then, but the broker said this would be a waste of time until I have selected a specific property and made an offer. Is this good advice? I'm worried about going to see tons of properties, finding the "perfect" btl property and making an offer, only to get declined from Natwest & NR.

Can't you go direct to either Natwest or NR (with the particulars of a suitable property and your costing worked out) and get an AIP?