Welcome to the reallymoving forum
Got questions and need some advice? Our forums have answers on everything from choosing the right property, to renting and selling.
  • If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.


No announcement yet.

The 6 month rule

  • Filter
  • Time
  • Show
Clear All
new posts

  • The 6 month rule


    I'm looking at adding some more houses to my portfolio.

    I'm going to get around 70k together to buy one cash and renovate it. Once done ill be looking to refinance it. I know most mortgage companies won't touch it unless you've owned it 6 months. I know this does not apply with northen rock but is there any other lenders out there what will let you refinance it with in 6 months?


  • #2
    Re: The 6 month rule

    Why dont you buy using a btl mortgage, then you dont need to refinance.

    If it needs some work you could go to TMW who have a light refurb mortgage, where you can draw down against the improved valuation of a refurbed property once complete.


    • #3
      Re: The 6 month rule

      You can refinance it within the 6 months.

      The 6 month rule stops a property being sold twice within 6 months. If your buying for cash and then putting a mortgage on it, i cant see that being too much of a problem. Admittedly ive never had to do it, but i cant see it being a major issue.
      I am a Mortgage Advisor. Any posts i make on this site is for information only, it should not be taken as advice.


      • #4
        Re: The 6 month rule

        There are few lenders who would consider remortgaging within the first 6 months but as ever check with your broker as the criteria can change from time to time and it differs between residential and buy to let.