Buy-to-Let mortgage...do ALL lenders insist on property being managed?

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    Buy-to-Let mortgage...do ALL lenders insist on property being managed?

    hi folks,

    im not new to the forum, although am recently registered.

    am currently considering a joint investment property venture, and was wondering if i could benefit from the wisdom of those in the know.

    we wish to get a buy-to-let mortgage on a single property, with a deposit of around 20%. from a preliminary investigation, it seems that many lenders insist on the property being full managed by an ARLA agent, as a condition of the mortgage.

    is this the case with all lenders? if so, are there any [legal] ways around this (we would prefer to manage the property outselves.) if not, which lenders dont insist on this?

    thanks in advance for any advice offered!

    #2
    No all lenders don't have this condition. You shouldn't have too much trouble finding a high street lender with no criteria in this area.
    Matt Churchill
    Cotswold Commercial Finance Ltd

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      #3
      500 schemes

      We have over 500 schemes and none of our schemes MAKE you let to an ARLA agent. I can recall about 7 years ago that ARLA backed certain buy to let mortgages providers in return for this condition BUT the market moved fast and hasn't been a requirement for many years...all I can suggest is that ARLA havent updated their website.

      Lee
      Last edited by landlord mortgages; 15-10-2006, 09:33 AM. Reason: add
      Lee Grandin MD, Landlord Mortgages. Expert on buy to let mortgages and Letting.



      Comment


        #4
        West Bromwich BS offer superb service and do not require managed props. I've done a few through them and have found them to be head and shoulders above the rest. Quick and no errors.

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