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Mortgage query

Last post Thu, Aug 28 2008, 1:27 PM by mick12uk. 3 replies.
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  •  Wed, Aug 27 2008, 3:19 PM

    Mortgage query

    I have a property which I am looking to develop to then rent out. Are there any mortgages on the market which have first payment deferred for 6 months?
    • Post Points: 20
  •  Wed, Aug 27 2008, 4:49 PM

    Re: Mortgage query

    what type of development does the property need? is it mortgageable at the moment?

    It may be that if it's deferred payments you are looking at, you may be best off looking at a bridging loan. may be good for you to have a chat to an adviser.

    Michael

    • Post Points: 20
  •  Thu, Aug 28 2008, 9:04 AM

    Re: Mortgage query

    The property is two storey detached. It was initially used as a plumbing business, the ground floor is entirely open plan with no rooms just a concrete floor.
    • Post Points: 20
  •  Thu, Aug 28 2008, 1:27 PM

    Re: Mortgage query

    In that case there is a company called buildstore that will do development finance and look to roll up interest throughout the project, may still be worth chatting to an adviser about though

    • Post Points: 5