Btl Mortgages - Properties With Statutory Tenants

[yasmin muhammad]

Does anyone have information on BTL mortgage for a property with statutory tenants. Have been to high street institutions who told me that nobody would give a mortgage for a property with statutory tenants. Best I could achieve is a business development loan - 3.75% above base rate. Property value is approx 100k with statutory tenants. Amount needed 40k. Would appreciate any advice.

[Grange]

You need to find a private bank. I suggest talking to John Gallop at Hoare & Co on Fleet St (a quick google will bring up a phone number). Expect 2% over base rate if they'll do it (and with a 40% mortgage I should think they will).