Posted on 23 July 2013 by Nigel
How and where can I get a loan/mortgage to buy a 2nd home at an auction, fix it up and sell shortly after for a profit?
You will typically be looking at a short term bridging or development facility. There are many such lenders who will look at this type of proposition, however you should get advice as there are some pitfalls to be aware of.
Auction sales can be a challenge in terms of timescales and unusual properties and I'd definitely recommend talking to one of our brokers, who will be able to guide you successfully through the process.
Let me know when would be the best time for you, and I'll arrange for one of them to contact you.
More than mortgages, talk to me about:
Financial Protection | Investments | Personal and Corporate Pensions | Home Insurance
General Insurance | Valuations | Conveyancing | Wills | Home finders
Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.
We recommend you seek professional advice with regard to any of these topics where appropriate.