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Buy to let Property with Gas and Electricity fail

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  • Buy to let Property with Gas and Electricity fail

    Greetings everybody!

    First time poster here.

    I have a query. What would happen if a buy to let company inspected a potential property and found it needed a rewire and a new boiler? Would the company allow the mortgage to go ahead but only with the proviso that both are fixed within a certain time frame?

    Many thanks for taking the time to read this.

    Peter

  • #2
    Re: Buy to let Property with Gas and Electricity fail

    Hi Peter,
    Are your referring to a mortgage provider as buy to let company? If a valution has found these faults most BTL mortgages will put a retention on the mortgage to allow you to get the work done, then they`ll inspect it for a small fee, and then release the funds.

    Neil

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