Buy to let flat mortgage - but owned less than 6 months

slammeddeluxe_2

Hi

We are looking to buy a flat to rent out - it's part of a block of 16 flats - ground floor and first floor only - we have income of £40k each and clean credit - But - the whole block went into administration by the previous owner (a builder) - it's now been bought by a developer and we are looking to buy off him. The issue I'm coming across is he hasn't owned it for more than 6 months and this seems to be a problem ?? Any ideas on a lender that might do this ?

ACG

There are a couple but options are limited.
I think you will need a broker although high street rates are a possiblity.

slammeddeluxe_2

Who will take it ? I've tried a broker :-(

ACG

Brokers on here can not name lenders as it could be seen as leading. We do not know the full situation.

Find another, there could be a reason why you broker could not help (which we are not aware of) but it does not hurt to get a second opinion.

Thrugelmir

Is the attraction the price of the property?

betmunch

I've done one like this recently and on the high street.

Your broker is letting you down here, unless theres something else you havent mentioned.