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Hi,

 

Could anyone provide some insight into what type of mortgage you would need to purchase a property that you plan on letting as a serviced apartment on sites like Airbnb?

 

From the people I've spoken to regarding this, lenders seem to dislike this so many of them don't notify them.

 

Cheers,

 

Luis

 

Luis-Guarin.jpg

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The ones that don't notify lenders will get a huge shock when their insurance doesn't pay out as they have the wrong mortgage,the lender blacklists them and they go for repossession.

 

Usually commercial lenders if you have experience or a very small number of BTL lenders who will base it on a standard AST rent.

Regards Simon

Searchlight Finance Ltd

T:01565 654005

 

Landlord and specialist property finance advisor only dealing with investors, landlords and developers throughout the UK and beyond.

Buy to Let - Commercial Finance - Bridging Loans - Development Finance - HMO Finance - Refurbishment Loans - Multi Let - Limited Company - Student Lets - Portfolio Finance

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Hi Simon, sorry to play devils advocate but do you know of any concrete examples of this actually happening?

Not all three together but have heard of many where wrong product is deliberately taken and lenders find out.

Regards Simon

Searchlight Finance Ltd

T:01565 654005

 

Landlord and specialist property finance advisor only dealing with investors, landlords and developers throughout the UK and beyond.

Buy to Let - Commercial Finance - Bridging Loans - Development Finance - HMO Finance - Refurbishment Loans - Multi Let - Limited Company - Student Lets - Portfolio Finance

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