BTL mortgage on a house leased to housing association
BTL mortgage on a house leased to housing association
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Discussion

kashn

Original Poster:

194 posts

213 months

Monday 17th October 2011
quotequote all
There are a few houses coming up for auction that are leased to a housing association for 15 years woth a 10 year break. Lease is in its second year.
Now, if I was to buy one of these properties, would I be able to get a buy to let mortgage.
(Rent is 10k+ 2.5% increase annually and guide is 150k)

scotal

8,751 posts

296 months

Monday 17th October 2011
quotequote all
I think you may struggle, it'll be down to whether the lender could take possession of the property should it be repo'd. I'm guessing that a 15 year lease would put off a number of lenders.

Add that to a 28 completion clause follwoing an auction.
Potential nightmare.