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Bridging loan alternatives
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The property will need to be converted to a single dwelling to be considered for a residential mortgage.Dal_Whinnie said:I am slightly puzzled since you say that you can get a mortgage of £220,000 and have £60,000 deposit available giving you a total of £280,000. Isn't this enough to cover the purchase price and fees which come to just over £160k?0 -
Read the auction terms and condition properly and get legal advice.
I recently bought in auction and had 6 weeks to complete.
Getting a mortgage was not straightforward as the property was a back to back sale.
Although you bought the property after auction, likely the same terms and condition applies.0
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