Getting a mortgage less than 6 months after house was last sold

Gretelina

Hi all,

Newbie to the forum, hoe you can help.

I'm planning to buy a property to refurb / sell on. I'm purchasing in cash and will aim to re-sell in 2-3 months time.
Are there still issues for people who want to apply for mortgages less than 6 months after the property was last sold? Or has that moved on now. Just concerned I will have trouble selling it if buyers struggle to have a mortgage approved on the property.

Thrugelmir

Few lenders will consider mortgages on property that's been owned for less than 6 months. So your market would be limited to cash buyers or sell at auction.

SplanK

We bought ours which was re-sold within a month. An estate agent did a deal with the previous owner where they bought the house we are in now, and then resold it, as soon as it went on the market we were all over it and moved in 5 weeks later!


So its do-able but some may raise questions about it.

Let_Us_See

Shouldn't be a problem