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BTL mortgage on an unencumbered property
Comments
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Thrugelmir wrote: »Who lives in it?
Was it gifted to you without reservation?
Where do your parents live?
The property is currently let out via an agent.
It was gifted without reservation.
Parents have moved into another house they own.0 -
Go see a decent broker talk to them and explain i am sure that a decent broker will be able to help you out properlyI am a Mortgage Adviser
You 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 -
I've spoken to two already and they haven't been able to find a lender. Any suggestion which broker/brokers to try?0
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There was a poster on here called stanmoresaver but he hasn't posted for a while, not sure if he checks private messages.
Only naming him because he is in your neck of the woods.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Reading your other thread, it appears that you and your sister are on the deeds of this house. So any mortgage would need to be in joint names to match the deeds. Is this is what is causing the issue?I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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There was a poster on here called stanmoresaver but he hasn't posted for a while, not sure if he checks private messages.
Only naming him because he is in your neck of the woods.
Thanks but I have now found a broker who thinks they have found a lender. Fingers crossed!Reading your other thread, it appears that you and your sister are on the deeds of this house. So any mortgage would need to be in joint names to match the deeds. Is this is what is causing the issue?
That's correct, the mortgage will be in joint names but I omitted that for simplicity. She is financially fine to be named on the mortgage, the only issues was the ownership of the property being less than 6 months.0
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