UK Landlord Forum / Life

Hi All,

First post be kind.

I have the opportunity to purchase a property in need of modernisation as a Buy to Let.

I have however been told for a BTL mortgage the property would need to be immediately lettable?

What would be the criteria for immediately lettable?

It's true that most buy-to-let lenders require the property to be ready to let, but that's less of a problem than it sounds.  What you need is a renovation finance that can be converted into a buy-to-let once the renovations are complete.  You should see a reputable independent financial advisor (and not an estate agency mortgage broker).

I'd say it means that the property should have a current GSC, EPC and Smoke alarms on each floor at the very least. Maybe you could ask the lender for more details but these three points are essential for any letting.