Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 4 weeks ago 48
I am looking to remortgage a BTL property for the first time, which has been renovated. The outbuilding was converted to a sunroom/lounge and have added a shower/WC which is under the permitted development specs.
The house has 5 beds but only 2 floors, apparently some lenders specify that if there are 5 occupants it will be classed as an HMO and would need the Council’s confirmation to the contrary before they can lend.
I am seeking recommendations about the pros and cons of remortgaging a property of this kind as I have no experience so far.
Any suggestions of lenders who will be prepared to lend as a standard BTL would be greatly appreciated.
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