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BTL mortgage - 1yr offer
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anandp
Posts: 279 Forumite
I've got an off-plan purchase in need of a mortgage soon.
The flat completes in December 07 so I'll need a BTL mortgage at that time.
With rates on the rise, I'm keen to get a fixed rate deal in place now but the obvious issue is getting an AIP (or DIP) - Agreement or Decision in Principle - now, that remains until Dec 07, Jan 08.
I've been told that although not the norm, it is possible to do this. Has anyone else ever done this before?
The place is due to be rented to students outside a big university campus, so its definitely one I will be keeping for a number of years (hence the fixed rate)!
Any help appreciated.
AP
The flat completes in December 07 so I'll need a BTL mortgage at that time.
With rates on the rise, I'm keen to get a fixed rate deal in place now but the obvious issue is getting an AIP (or DIP) - Agreement or Decision in Principle - now, that remains until Dec 07, Jan 08.
I've been told that although not the norm, it is possible to do this. Has anyone else ever done this before?
The place is due to be rented to students outside a big university campus, so its definitely one I will be keeping for a number of years (hence the fixed rate)!
Any help appreciated.
AP
Interested in property investment, web tech, social media, forex, equities. Also a proud father & entrepreneur of sorts.
0
Comments
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On a residential mortgage Nationwide are good for this with New Builds as they will extend offers quite readily. Worth checking if their specialist lending arm UCB will do the same.
Their 5 yr Fixed BTL rates just now are 5.99%.0 -
Thanks for the quick reply.
If an offer expires, you lose your application fee right?Interested in property investment, web tech, social media, forex, equities. Also a proud father & entrepreneur of sorts.0
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