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New Build Flats: Anyone Doing Them??
Wutang_2
Posts: 2,513 Forumite
hello - just wanted to test all the top mortgage advisers out there...
Would any mortgage provider do a new build buy to let purchase (not first time buying) at 85% or 80%?
rental income fine and leasehold but I have a feeling no one does this anymore...am I right?
any help will be most appreciated
Would any mortgage provider do a new build buy to let purchase (not first time buying) at 85% or 80%?
rental income fine and leasehold but I have a feeling no one does this anymore...am I right?
any help will be most appreciated
Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
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Comments
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In short, no.
75% Is the most you will get on a new build flat / apartment at the moment.
Unless anyone wants to correct me?0 -
come on someone - correct him!! I will take 80%!!Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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wow, how many swear words can you get in a title?
New Build and Flats... I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
In short, no.
75% Is the most you will get on a new build flat / apartment at the moment.
Unless anyone wants to correct me?
Unfortunately mm2, you are right. I did a review of the market place 2 weeks ago and 75% was a maximum on BTLs (big shame as I had the offer of 50 mortgages if I could have got 85%, which Mortgage Express had withdrawn between me asking them, and double checking with their BDM with regards to their exposure on the development)
On owner occupied purchases, you can still get 95% though courtesy of Halifax0 -
Yeah I had 21 to place with a further 59 a possibility. Dropping the 75% bombshell didnt go down too well I dont think.
I wonder if they were for the same client!?0
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