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You're assuming getting a mortgage (in the UK) is a click-click-approve process, but it is far from that Purchasing any property is a many-month endeavour with

• phpnode 3y ago
  Yes it can take several months but it's also a well oiled process that's quite straightforward as long as you have the relevant paperwork ready to go and assuming the properties you want to buy are easily mortgageable (and you have a large enough deposit and a good credit rating)
• phil21 3y ago
  I don't know how it works in the UK, but in the US the types of people hustling properties in real estate are not using the same banks/financing an average person looking for a mortgage would. It seems from talking to small time real estate folks that you use these lenders (likely lie or stretch some truth to do so in many cases) to get your first 1 or 2 loans, then move on to specialized lenders. There are specialized firms w/ private capital that are happy to fund these midsize deal flow guys and finance them. Once you get a working relationship with a few such vendors it seems rather easy to get marginal deals done others would find impossible. I don't know if this simply doesn't exist in the UK at all - but I'd bet money that it does in some form. Since bankers and finance make their money off the points on deployed capital, especially the loan officer making commission on the deal flow, the incentives are aligned to make more loans vs. less. I think the hardest part of getting something like this going is the first 2 to 3 properties. After that and a few years of proven ability to manage cashflow here in the US your lending options open up exponentially both in number of lenders and the creative/exotic means of financing now available.