mortgage lenders and longer term tenancies

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This topic contains 3 replies, has 3 voices, and was last updated by  AlastairC 7 months, 1 week ago.

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  • #1460

    Roni Moran
    Moderator

    Does anyone know of any mortgage lenders who allow long-term tenancies? My current tenants are happy on their periodic tenancy but future tenants might prefer a longer term tenancy so it would be good to be prepared as my fixed term loan is up in September …

    #1462

    jdc
    Moderator

    Mortgage lenders who prohibit offering tenants tenancies of more than a year can be an obstacle for landlords who want to offer their tenants more security. It’s a similar problem to insurers whose policies won’t cover letting to tenants on benefits. Unless you read the terms and conditions carefully, you could find yourself prevented from being flexible and offering your tenant real choice.

    Shelter published a list of mortgage leaders who allow landlords to offer longer tenancies – some for 24 months and other for longer. The list may not be up to date as it was originally posted in 2016 but it’s a good starting point:
    http://blog.shelter.org.uk/2016/06/mortgage-lenders-open-up-buy-to-let-to-longer-tenancies/

    Be good to hear from anyone who has found a mortgage recently which allows longer tenancies

    #1658

    Roni Moran
    Moderator

    I did look at this list a while back when you replied, but forgot to post a “thank you”. As you say, it’s a good starting point. I need to start doing my research now …

    #1676

    AlastairC
    Moderator

    Hi, Roni, I hope you’ll keep us updated on how you get on.
    Alastair

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