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Question on application
Looking for some help with a question please, had BTL mortgages for years but never seen this question before.
Might be a simple answer but i am unsure ?
"Will at least 40% of the property be used as, or in connection with a residential dwelling"
Anyone care to translate to simple english ?
Comments
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"Is it a house".Eat vegetables and fear no creditors, rather than eat duck and hide.0
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Tell us what you're trying to mortgage and we'll tell you what the answer should be
I presume it's aimed at mixed commercial/residential properties e.g. shop with flat upstairs.0 -
Tell us what you're trying to mortgage and we'll tell you what the answer should be
I presume it's aimed at mixed commercial/residential properties e.g. shop with flat upstairs.
Nothing fancy just a Mid Ter Hse - no commercial in sight
Its on a Virgin App form and I have never seen a form as big :rotfl:0 -
Perhaps they use a standard form for all mortgages - residential, commercial, mixed etc.
Just answer the question.
"Yes."0 -
The question's been answered - so it's not really relevant anymore, but if anyone wants more context, it looks like it's section 5 question 52 on Virgin Money's BTL mortgage application form:
http://intermediaries.virginmoney.com/virgin/assets/pdf/LEG20_BuyToLet_appform.pdf0
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