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Mortgage to buy a home which is currently being rented
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pmcavoy
Posts: 1 Newbie
I have a problem that I cannot find a bank that will give me a homebuyers mortgage for the property I wish to buy.
The buyer has given me a good price to take on the tenant. The tenant will be given 2 months notice the moment we exchange. I'm happy with this part.
However the banks I have asked say that they will either not give me a mortgage if there are tenants during exchange or, worse, will not release funds if the property is not vacant at completion.
Does anyone know a bank that will allow this?
The buyer has given me a good price to take on the tenant. The tenant will be given 2 months notice the moment we exchange. I'm happy with this part.
However the banks I have asked say that they will either not give me a mortgage if there are tenants during exchange or, worse, will not release funds if the property is not vacant at completion.
Does anyone know a bank that will allow this?
0
Comments
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you're dreaming. and so is the vendor.
tell them you'll buy the house when it's empty.0
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