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mortgages on leasehold flats
jandrew
Posts: 14 Forumite
What are the restrictions on getting a buy-to-let mortgage on a leasehold flat? Eg is there a minimum period of lease that must exist before they can be mortgaged? Are interest-only mortgages available? Are there restrictions on flats in high-rise buildings? Thanks in advance for any info.
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Comments
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Many variables here.
Lease remaining varies but aim for 50 years at end of the term. May be less.
Interest only ok for BTL.
Is it ex-local? If so further restrictions apply.
High rise will need a lift. If ex local then above certain level of floors it can be an issue.
If in London it can be less of an issue.
Need to know how many are owner occupied.
Far too many things to consider on a forum. Speak to a broker as many BTL lenders are broker only.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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