Remortgaging, travelling and renting

cubiq

I'm a first time buyer who's 2 year fixed mortgage is up at the end of September. Currently paying 5.29% and will revert to halifax current standard of 3.5%.

I'm currently employed but have decided to going travelling (from mid september) for a year, I do intend to do some work whilst away. I will be renting my flat whilst away. I have sufficient saving to not have to work and also pay the mortgae should anything happen for up to a year.

The original mortgage was arranged through London and Country, talking to their advisor he tells me the only option taking into account my circumstances is to stay with halifax. They can offer 4.99 fixed for 3 years with £999fee. Doesn't seem like a great deal when I look what else is out there.

Haliax's auto re-valuation has also taken my LtoV down to 83% down from 68% originally, I cannot believe the property has really fallen that much when I look at other flats on the market, I think the LtoV should at least be 75%. It's on London, E2. Expericences?

Can I go elsewhere, do I need to disclose the fact I will be entering unemployment, have saving and intend to rent the flat? Does this limit me to only Buy-to-let mortgages? Can I get a better rate anyway with one of those? May I be better off just going on the standard rate and remortgaging when I am back.

I also will be trying to get a sabitical from my current employer, does this alter anything as I guess technically I am still employed.

Thanks.

_Andy_

You just need to ask Halifax for consent to let.