Hi, Alexandra here from James Property Mortgages. Yes, bridging loans are very common for auction purchases because of the speed required. We work with a variety of different brokers and lenders, so we can definitely introduce you to the right people and help organise the finance for you, whether that is in your personal name or through a limited company. You can submit your details here so our team can assist: https://jpu.typeform.com/to/c3jz4pLJ By the way, regarding auctions, we are currently launching a James Property Auctions for buying and selling through auction. Please do get in touch with us if you need any help with that. Best regards, Alexandra James Property Team

Hey Fritz! I'm Aleksandra with James Property Mortgages. Great question, and yes, it’s definitely possible 😊 You’re right about consent to let. Your current lender can give you permission to rent the property out while you still have a residential mortgage. It’s usually granted for around 12 months, sometimes with a small rate increase or fee. Some lenders will renew it, but it’s meant as a temporary fix, so you can’t count on keeping it going long term. If you plan to keep renting it out, the usual route is to remortgage onto a proper buy-to-let product. Here’s roughly how that works: - The lender looks mainly at the rental income, which normally needs to cover the mortgage payment by around 125-145%. - You’ll usually need about 25% equity in the property. - If you’re also buying a new home to live in, this is called “let to buy”, and both mortgages are arranged together. Before you switch, check whether your current deal has early repayment charges. It’s also worth thinking about tax, because BTL interest is treated differently from a residential mortgage. If you’d like us to look at your situation, you can apply through the James Property Mortgages website and our team will get back to you with your options: https://jamespropertymortgages.io/

Let them cook!