Mortgage for Block of Flats
Mortgage for Block of Flats – A Mortgage for a block of flats is a specialist area of mortgage brokerage that we handle at Capital Fortune. There are a relatively low number of instances in which an individual needs a mortgage for a whole block of flats; there are a number of complicating factors in applying for a mortgage for a block of flats. Generally, either a commercial or a buy to let mortgage would be appropriate if you are looking for a mortgage for a block of flats, as it is most likely that the mortgage will be taken out for equity while leasing flats in the block. Whether you are planning on building, purchasing or converting a block of flats, extensive details of your business plan and expected earnings are crucial in making an informed decision, and having your mortgage for block of flats approved by a lender. There are a number of factors to take into consideration, for example: estate agent fees, maintenance costs and expected rental incomes of any leases on the property, all of which can affect whether a mortgage for block of flats is a viable investment.
Being a rather niche financial product, finding a mortgage for a block of flats can be difficult, especially where prospective income from rentals, in the case of a buy to let mortgage for block of flats, is not guaranteed. Using a broker that uses a comprehensive panel of lenders approach with years of experience can help find the mortgage for the block of flats that you are looking for.
Capital Fortune have built a reputation for being an expert mortgage brokerage who can give you the advice and guidance you may require, and we are with you every step of your application – from finding the right mortgage on the market to completing your application.
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The Financial Conduct Authority does not regulate some forms of buy to lets, commercial mortgages, secured loans, unsecured loans, bridging loans, trusts, overseas mortgages, conveyancing or debt management.