Help regarding mortgage - Letting

[JCKST1]

Hi,


Looking for some advice here.
I have seen a property local to me for sale at a great price due to it being repossessed. I have spoken with a mortgage broker and I can not get a buy to let mortgage (self employed + large deposit!) so I have been looking at a normal mortgage and was thinking about buying it then a month or so down the line renting it out and calling the bank to tell them I am doing this, I actually have a tenant in mind who is willing to take it.

Is this possible, I have read numerous stories online but not sure if after 1 month they would believe me? Presume the payments would increase but I dont mind as its a good yield.

Thanks

[JCKST1]

Thanks Sarnie.

BTL I am looking at double the deposit unfortunately, at a push it maybe possible if no other option but it would have to be last resort due to the cost.

Another problem I am having is that with the house being a re-possession it needs to be completed within 21 days of the offer being accepted, after speaking to my mortgage advisor it looks unlikely this will happen

[JCKST1]

Sarnie you seem to be a man in the know. Any chance you could fire me an email and we can chat that way.
I presume you are a broker or similar?