Have you ever tried to arrange a mortgage for a Buy to Let property valued at just £15000? Most lenders do not offer mortgages below £25000, as the lending falls under a different set of regulations. Many more lenders place their minimum value at £50000 or more claiming it is uneconomical to lend less than this!
With property prices as low as £15-£25000, you may ask why you would need a mortgage, but having this sort of sum tied up in property until the value rises can restrict the growth of your property portfolio. We have researched the market and found 2 lenders that will consider properties with values as low as £15000. One is a high street lender with a fabulous range of rates and lending up to 85%, the other will also lend up to 85% but will also consider applicants with past credit problems. Both lenders will lend on Scottish property.
If you want to find out more then CONTACT MY BROKER and she will be happy to tell you more. If you want to know how to get properties at such a price then read about my UK services.
Ajay.
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Posted on: 26th February 2008 @ 13:46:00
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