Selling a Mortgaged house after 3 Months

entwistle18

Hello

I would like to sell a house that we have owned for 3 months. We had taken out a buy-to-let mortgage but have decided to sell it. Is there any problem with this in regards to a new person getting a mortgage on the property? I understand that I will have an early repayment charges

Thanks

dimbo61

You normally have to wait 6 months from buying to selling before lenders will give a new mortgage but I think by the time you have found a buyer and done all the legals, searches, surveys etc the 6 months will have passed

antrobus

And most house are let on the basis of a standard 6 month tenancy, if only because you have to wait 6 months before you can issue a s21 notice.

cycloneuk

Cash buyers only until 6 months have passed, no bank will accept a mortgage application until a property has been owned at least 6 months.

Thrugelmir

May take 3 months to find a buyer.

kingstreet

cycloneuk wrote: »

Cash buyers only until 6 months have passed, no bank will accept a mortgage application until a property has been owned at least 6 months.

That isn't the case. Some lenders operate the "six month rule" but there are others who have no problem with a property which has not been in its present ownership for that period.