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Post Office - further lending criteria
F_T_Buyer
Posts: 1,139 Forumite
Hi all, does anyone know if the Post Office will give further lending to buy a BTL (rather than spunking it on a car)? My mortgage is quite small, 40% of the value of my home, and I would like to borrow another 33% ish - £80k.
I have asked the post office, for 50k, but said it was for a car/holiday etc and they said yes - and they would lend me £80k no problem. However, I know some lenders don't like lending to for investments, hence why I said it was for a car/holiday.
I don't want to jeopardise myself by saying it for a BTL, they say no, then I say its for a car/holiday etc.
For the record, I'm in a fix and my redemption is 5% of the mortgage value, so can't switch products for another 1.5years. Also, I can afford the higher mortgage no problem whatsoever.
I have asked the post office, for 50k, but said it was for a car/holiday etc and they said yes - and they would lend me £80k no problem. However, I know some lenders don't like lending to for investments, hence why I said it was for a car/holiday.
I don't want to jeopardise myself by saying it for a BTL, they say no, then I say its for a car/holiday etc.
For the record, I'm in a fix and my redemption is 5% of the mortgage value, so can't switch products for another 1.5years. Also, I can afford the higher mortgage no problem whatsoever.
0
Comments
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your application is fraudDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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