buy to sell mortgage

xopalx

Hi, Does anyone know if there is such a thing as a buy to sell mortgage.

I am looking to buy a place refurbish/modernise it and sell it on for a quick profit.
Im not looking to rent so that rules out a buy to let mortgage.

Can someone guide me in the right direction as to which type of mortgage i should be looking at.

Thanks

Wh05apk

Will you be living in the property as your main home, or are you really looking as a developer? if so you will need to raise either a commercial mortgage which will allow you to repay, or possibly raise the money elsewhere - could you raise against another property to start a "fund"?

holly_hobby

Commercial finance, bridge finance (if your mad enough !) - with (as a developer) income tax instead of CGT payable on any gain on disposal.

Hope this helps

Holly

xopalx

I wont be living in the property. just want to do it up and sell on.
The property is worth 200K so i have a 30% deposit. Just didnt know what type of mortgage to get.

Do you know any good commerical mortgage compnaies that offer a good rate that i could look into.

Thrugelmir

xopalx wrote: »

Do you know any good commerical mortgage compnaies that offer a good rate that i could look into.

Approach the commercial arm of a bank with a business plan.