Mortgage broker for RTB

Doodledoo222

Hi
How can I find a broker for a family member who is wanting to buy his social housing property? He has had the valuation so just need to commence with a mortgage application. 

I have contacted my usual broker but no reply, probably due to workload at the moment, also unsure whether RTB is different.

Thanks everyone

K_S

@doodledoo222 RTB mortgages are slightly different but not particularly complicated unless we're talking about high-rise/deck-access/low-value flats.

Outside London, the loan-size is usually very small (so it doesn't fit in with all broker business models) which could a reason for your broker not getting back.

If he's got an S125 notice from the council then he should be good to go for a mortgage application, just try a few other brokers or one of the free ones listed on the MSE page.

Doodledoo222

K_S said:

@doodledoo222 RTB mortgages are slightly different but not particularly complicated unless we're talking about high-rise/deck-access/low-value flats.

Outside London, the loan-size is usually very small (so it doesn't fit in with all broker business models) which could a reason for your broker not getting back.

If he's got an S125 notice from the council then he should be good to go for a mortgage application, just try a few other brokers or one of the free ones listed on the MSE page.

Many thanks. No it is a family home, and not so small value mortgage. He has the full discount and not in London.

Many thanks. No it is a family home, and not so small value mortgage. He has the full discount and not in London.

So do mainstream lenders do RTB?  I always presumed it was a specialist area. The reason I preferred a broker is I don't know his financials as I don't want to ask. He has never owned a house before, always lived in this property. I felt it would be better for him but it seems straightforward as always been in a full time role etc.

Thanks again

K_S

@doodledoo222 Yes, plenty of mainstream lenders offer RTB products with slightly varying features/criteria and deposit requirements.