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BTL advice needed!
Ben27
Posts: 34 Forumite
Hii, my wife and I have found a place that we really love. It's right on the seafront and is perfect...we are already planning to retire there!
It's currently a house that's split into three seperate flats, all with seperate tenancy agreements. Problem is, from what I can see, most lenders won't touch this, the only one I can find is a specialist lender that has fees of over 5k and an interest rate of just shy of 5%.
The purchase price would be 320k, deposit of 96k to take to 70%.
Any advice on who would be willing to lend at a sensible rate on such a property would be gratefully received!
Ben
It's currently a house that's split into three seperate flats, all with seperate tenancy agreements. Problem is, from what I can see, most lenders won't touch this, the only one I can find is a specialist lender that has fees of over 5k and an interest rate of just shy of 5%.
The purchase price would be 320k, deposit of 96k to take to 70%.
Any advice on who would be willing to lend at a sensible rate on such a property would be gratefully received!
Ben
0
Comments
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Hii, my wife and I have found a place that we really love. It's right on the seafront and is perfect...we are already planning to retire there!
It's currently a house that's split into three seperate flats, all with seperate tenancy agreements. Problem is, from what I can see, most lenders won't touch this, the only one I can find is a specialist lender that has fees of over 5k and an interest rate of just shy of 5%.
The purchase price would be 320k, deposit of 96k to take to 70%.
Any advice on who would be willing to lend at a sensible rate on such a property would be gratefully received!
Ben
You need a broker.
Ask for recommendations or visit unbiased.co.uk.Thinking critically since 1996....0 -
There will be lenders for this but you will not get residential rates.
Speak to a brokerI 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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