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Funding my first development.

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  • Funding my first development.

    Hi,

    I am currently serving in the RAF but will be leaving after 22yrs of service in September 2013. I determined to be a full time property developer when I leave. I will receive a lump sum of approx. £32K when I leave the forces along with a £20k investment from my dad and would like to use this to invest in my first property. I plan to buy, renovate and then sell. My question is, is it possible to use a BTL mortgage to fund the purchase even though I have no intention of renting it out? Or is there a better way of raising the finance bearing in mind i will have no wage coming in until I sell the first property?

    I would be grateful for any advice.
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