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Leasehold buytoLet

leaseHF
leaseHF Posts: 1 Newbie
edited 16 February 2020 at 9:42AM in Mortgages & endowments
I have 66 years on Leasehold flat left and like to get a BTL Mortgage is it possible to get one with whom ? 

Comments

  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    edited 16 February 2020 at 10:23AM
    66 years left on the lease, you will find it difficult to find a lender who will do so on such a short lease. Suggest either extending the lease, probably statutory extension, or speak to a broker

    For others reading in the future, the longer you leave the lease to wind down, the more expensive it will be to extend it. 

    OP why have you left it this late?
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • It is possible but not enough info.  Some lenders policy is based on the number of years left at the end of the mortgage but have income requirements and high credit requirements.  
    Also the rent you receive against the mortgage required will be a massive factor in what lenders are available. 

    Whilst residential mortgages are fairly simple to say what options are, there are too many variables for btl mortgages to say without a full fact find. There will be options available but there is a reason a lot of lenders have restricted their btl products to brokers only
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