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Mortgage advise please
GlenVR6
Posts: 10 Forumite
Hello,
I currently have a £40k mortgage on my house which i own £180k of as I inherited the house and borrowed £40k to renovate it. Currently I'm with The One Account but as im not very good at keeping a eye on my money i want to change the type?
I would need a morgage that would allow payment breaks and over payments as might be going traveling next year for a year and rent out my house to fund it. But saying that this is not essential as if the payments are lower each month the rent from the house will cover and still fund me.
Would there any fees to move my mortgage?
Thanks in advance!
I currently have a £40k mortgage on my house which i own £180k of as I inherited the house and borrowed £40k to renovate it. Currently I'm with The One Account but as im not very good at keeping a eye on my money i want to change the type?
I would need a morgage that would allow payment breaks and over payments as might be going traveling next year for a year and rent out my house to fund it. But saying that this is not essential as if the payments are lower each month the rent from the house will cover and still fund me.
Would there any fees to move my mortgage?
Thanks in advance!
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Comments
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sorry but what has breast cancer got to do with mortgages????
mistake maybe?0 -
Glen, from what I understand, if you intend renting your house out you'd technically need a buy-to-let mortgage unless you could find an owner/occupier mortgage that allows you to rent out too if required.
Also I believe payment breaks often only tend to be allowed if you've already been with the company a set time, I know Nationwide for example won't let you take payment holidays in the first year, and will only let you take them if the mortgage is less than 80% of the house value. Whether buy to let mortgages allow you such flexibility I don't know, but I doubt it.My Excel Mortgage Calculator Spreadsheet: http://forums.moneysavingexpert.com/showthread.html?t=11571730 -
It is better idea to sea world wide financial planning.Montages are different type of idea.You have to pay money with out breaks then you can participate more things.
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mike5
Foreclosure Homes0 -
It is better idea to sea world wide financial planning.Montages are different type of idea.You have to pay money with out breaks then you can participate more things.
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mike5
Foreclosure Homes
I couldn't find a head scratching smiley. I am a Mortgage Consultant and don't like to be told what I can and can't put in a signature so long as it's legal and truthful.0 -
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