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Empty buy to let

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Author Topic: Empty buy to let  (Read 134 times)
Newbie
Posts: 1

I like property

« on: December 20, 2021, 10:57:59 AM »

I知 about to purchase a house on a buy to let mortgage.
It needs quite a bit of work in my opinion I want to fit a new kitchen bathroom drive way and full garden landscape. I got the house at a good price so want to do as much work to it then re finance it.
I知 in no rush to complete the work as I値l be doing it myself and the mortgage payments are next to nothing pcm.
This is my first buy to let so I want to know do the lenders check if it痴 rented out. Is there a time limit on having it empty before they can get the ass about it,
Surley if I知 paying the mortgage without any issues they should be happy and leave me alone?

Thanks very much
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Hero Member
Posts: 1415

I like property

« Reply #1 on: December 20, 2021, 07:45:54 PM »

Obviously there will be periods when any BTL will be empty,due to tenants leaving or work being carried out.Something about the way you have worded this makes me wonder if you are ever intending to let it out however? What is the re-financing about? Others will know more,but some clever juggling can in some cases mean fraud.More information is needed.
Newbie
Posts: 6

I like property

« Reply #2 on: December 20, 2021, 09:16:26 PM »

Yeah that痴 normal
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Hero Member
Posts: 4353

Abuse Officer

« Reply #3 on: December 21, 2021, 07:22:34 AM »

Surley if I知 paying the mortgage without any issues they should be happy and leave me alone?

Pretty much, in practice. You are paying them more than you would if it was a Residential mortgage... not really their concern if you're not making any money yourself.

The Council, on the other hand, might start harassing you... and offering you the incentive of paying a premium on your Council Tax.
Global Moderator
Hero Member
Posts: 1415

I like property

« Reply #4 on: December 21, 2021, 10:28:29 AM »

My council charges full rate for voids,with no waivers while refurbishments take place.The amount charged goes up every six months.The work you describe could easily take a year or more if you are doing it on top of your work,so do allow for that.
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