Buy to Let mortgages

[audi321]

I'm buying a buy to let property but I need to buy it quickly (won't bore you with the details) so I'm going to buy it cash - it is not undervalued.

However, this will wipe me out of savings, so I want to mortgage it pretty quickly. However, I hear that a lot of companies will not do this within 6 months of purchase.

Does anyone know if this is across the board or are there some providers which will allow this?

Thanks all.

[Stella Tortoise]

There are some who will do this, you should speak to your broker for details.

[geeks]

Sarnie!

[rpuchalka]

Stella Tortoise said:

There are some who will do this, you should speak to your broker for details.

There are specialist lenders that will look at applications where a property has been bought for cash, the rates tend to be higher so do be aware

[SV_WDC]

bridging loan?

[Sarnie]

audi321 said:

I'm buying a buy to let property but I need to buy it quickly (won't bore you with the details) so I'm going to buy it cash - it is not undervalued.

However, this will wipe me out of savings, so I want to mortgage it pretty quickly. However, I hear that a lot of companies will not do this within 6 months of purchase.

Does anyone know if this is across the board or are there some providers which will allow this?

Thanks all.

There are prime lenders who will do it from day one as long as the valuation used is the same as what you paid for it........

[Killer2005]

As above, most high Street lenders would only touch it once it's owned for 12 months as a standard but some do 6 months. Best bet would be bridging loan then remortgage after 6/12 months.