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Loan on RTB
Mjp
Posts: 2 Newbie
Hello. I have bought my flat on a RTB, paid in cash. I have had it for four years 7 months so cannot sell for another 5 months. I have found a property I would like to buy and been advised to get a right to buy mortgage on my property in order to finance the new purchase. I have just been refused the mortgage as I still have 5 months left on my RTB even though I purchased it for cash. Has anyone experienced this? Is there anyone who would lend to me in this situation? The new purchase is in a place I am now living for work and properties do not come up that often hence my urgency.
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