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Jul, 2014

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  1. #11

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    If you are getting a mortgage, then I guess the Valuer will need access. How would the auctioneer handle that - commercial mortgage based on the rent, indicated?

    If you call the ArtfulBodger an ArtfulCodger he doesn't like it. Fun to be had here, methinks :-).

    ML
    Refer Mad Regulators to Arkell vs Pressdram.

  2. #12
    Join Date
    Jan 2011
    Posts
    1,401

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    Quote Originally Posted by NewbeeLandlord View Post
    We do have emergency funds to purchase but am told by the mortgage broker that once bought with cash its not possible to mortgage for 6 months? So would prefer to avoid that route assuming the 6 month rule is true.

    Thanks so much for the advice/responses.

    Newbee
    If you have to complete using cash, you will be able to get a mortgage straight after, but only up to the value you originally purchased. I think Nothern Rock do this type of mortgage and possibly TMW. A broker will know of all the right companies.

    Brave you for buying blind. I wouldn't be able to sleep from the drop of the hammer until I got inside the property.

    BTW, strictly speaking, you are not allowed into the property before completion. I've bought at auction before and I got the estate agents to let my surveyor in (who also took me along with him!).

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