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remortgage rental property whilst abroad
craigweston
Posts: 13 Forumite
I am looking to remortgage to an interest only mortgage on my let property. I would require about One hundered thousand on the property worth about 170 thousand.
The property is currently let to an agent on a guarenteed income basis, providing 8000 pounds a year income. This rental would cover the mortgage interest payments and is guaranteed under contract to be paid each month,
whether there are tenants in the property or not. So I guess I will need a self certified mortgage, though I can easily prove this income from the contract.
Currently I am investigating a business oppotunity abroad and have no other income, don't see why this should be a problem given the guaranteed income capable of covering the mortgage interest payments.
I've been renting the property for one year now on an agreement with my current provider who allowed this for a maximum of 12 months, before automatically converting the mortgage to a buy to let one.
So that is my current situation and requirements. Can anyone advise if this will be possible to do from abroad with no aditional income and recomend a providers product or broker I could arrange this with.
Many thanks.
The property is currently let to an agent on a guarenteed income basis, providing 8000 pounds a year income. This rental would cover the mortgage interest payments and is guaranteed under contract to be paid each month,
whether there are tenants in the property or not. So I guess I will need a self certified mortgage, though I can easily prove this income from the contract.
Currently I am investigating a business oppotunity abroad and have no other income, don't see why this should be a problem given the guaranteed income capable of covering the mortgage interest payments.
I've been renting the property for one year now on an agreement with my current provider who allowed this for a maximum of 12 months, before automatically converting the mortgage to a buy to let one.
So that is my current situation and requirements. Can anyone advise if this will be possible to do from abroad with no aditional income and recomend a providers product or broker I could arrange this with.
Many thanks.
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