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Does anyone know ...

jackbean

jackbean Posts: 4 Newbie

1 March 2006 at 10:55PM in Mortgages & endowments

We are selling our house but wondered if we stay with our current mortgage provider would this avoid having to do all the paperwork again with the new property?

Jack Bean

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Comments

AndrewSmith Posts: 2,871 Forumite

1 March 2006 at 11:07PM

In short, no.

The loan is secured against a new property, and your situation may have changed in the meantime.

The lender will , by enlarge, treat your application as it would any new customer.

Andy

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silvercar Posts: 49,427 Ambassador

1 March 2006 at 11:07PM

no, you will still need legal work, valuation etc. possibly also proof of income etc especially if you are increasing your mortgage.

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herbiesjp Posts: 8,499 Forumite

2 March 2006 at 8:59AM

A salready stated - no.

New property, new application - new process all over again either with current lender or new lender

I am a Mortgage Adviser

You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.

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