How to get cash back out so we can buy another

by Readers Question

8:27 AM, 4th April 2016
About 3 years ago

How to get cash back out so we can buy another

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How to get cash back out so we can buy another

We have just bought a BTL house for £175k cash at auction. How to get cash back out so we can buy another

We are keen to get it mortgaged ASAP so that we are in a position to buy for cash again.

We have heard about the 6 month rule/guideline but wondered; which lenders would be happy to value and lend earlier?

We don’t need anything clever, it was just valued at the £175k and if we had to leave 25% or even 35% in that would be fine. We just want to be able to actively consider other purchases now instead of having to wait for 6 months.

If you have any experience or tips, please share!

Thanks

Dom



Comments

Mark Alexander

8:29 AM, 4th April 2016
About 3 years ago

Hi Dom

Visit our Members section (via site navigation) and look up the member profiles of the following brokers who all sponsor this website and have contact forms on their member profiles:-

In no particular order ......

Mark Edwards
Howard Reuben
Simone Gilks
Adam Hosker
.

Kate Mellor

21:26 PM, 4th April 2016
About 3 years ago

I'm pretty sure that you won't have any problems with remortgaging. I think it's just reselling very quickly that's the problem.

Neil Patterson

8:29 AM, 5th April 2016
About 3 years ago

Hi Dom,

There is a reasonable range of lenders that will remortgage for you inside the 6 months of purchase, if as in this, case there is good reason to do so.

I you need help finding the best lender and product please email me npatterson@property118.com with your be telephone number and any other info and I will have one of our brokers help you out 🙂


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