I have bought a property at auction. Can I remortgage to a Buy To Let?

Posted on 16 February 2014 by Swapnil


I have bought a property at auction. Can I remortgage to a Buy To Let?

I have bought with bridge loan in an auction last month. Property has been transformed with all the TLC, new bathroom, kitchen, new carpets and paint. Can I remortgage with another lender on buy to let basis?

Swapnil,

You can look to remortgage now onto a Buy To Let basis, however most lenders insist that you have to have owned the property for 6 months before you can start the process.

Currently, there is one buy to let lender who will allow you to remortgage before the six months is up, however they will value the property at the price you paid for it, not the current value. 

If you would like to discuss this in more detail then please contact one of our mortgage experts on 0344 346 3672.

Regards,

Simon

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