"Investment buyers only"

Mortgage2015

I have a feeling I'm asking a question with an obvious answer but I will ask anyway to confirm.

I've seen a very nice house (newly refurbished) in a not great neighbourhood but one I have lived in before and would be happy to live in.

Anyway It states "Investment buyers only" as the place is rented. Is this a warning to people who would naturally want to move in straight away or is this another way of saying you would not be able to get a non-BTL mortage on the house?

I would have the % deposit for a BTL but I would not have the other home and the age requirement of some lenders.

Anyway question is seeing as its for sale now already let it must have less than 12 months on the agreement, added to the few weeks it would take the mortgage to go through, would mean there were less months on the lease. Would any lender consider lending on a residential mortgage when the house would be rented out for the first few months of the new mortgage? A consent to let before purchase? :rotfl: I'm laughing but there must be some lender out there from the many? "one for a broker"?

nidO

Mortgage2015 wrote: »

Would any lender consider lending on a residential mortgage when the house would be rented out for the first few months of the new mortgage?

No.

If you aren't buying it with vacant possession, you can't get a residential mortgage for it.

Thrugelmir

Mortgage2015 wrote: »

Anyway question is seeing as its for sale now already let it must have less than 12 months on the agreement, added to the few weeks it would take the mortgage to go through, would mean there were less months on the lease.

That's not how it works.