Buy-to-Let mortgage...do ALL lenders insist on property being managed?

[kronenborg]

hi folks,

im not new to the forum, although am recently registered.

am currently considering a joint investment property venture, and was wondering if i could benefit from the wisdom of those in the know.

we wish to get a buy-to-let mortgage on a single property, with a deposit of around 20%. from a preliminary investigation, it seems that many lenders insist on the property being full managed by an ARLA agent, as a condition of the mortgage.

is this the case with all lenders? if so, are there any [legal] ways around this (we would prefer to manage the property outselves.) if not, which lenders dont insist on this?

thanks in advance for any advice offered!

[Matt Churchill]

No all lenders don't have this condition. You shouldn't have too much trouble finding a high street lender with no criteria in this area.

[landlord mortgages]

We have over 500 schemes and none of our schemes MAKE you let to an ARLA agent. I can recall about 7 years ago that ARLA backed certain buy to let mortgages providers in return for this condition BUT the market moved fast and hasn't been a requirement for many years...all I can suggest is that ARLA havent updated their website.

Lee

[refurbremort]

West Bromwich BS offer superb service and do not require managed props. I've done a few through them and have found them to be head and shoulders above the rest. Quick and no errors.