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Woolwich permission to let. What will they do to my rate?
zalaga
Posts: 1 Newbie
I have a residential mortgage with the Woolwich.
It is on a five year fix, that comes to an end on 30th June 2010. The rate is 5.69% If I was still living there, I guess I would then revert to the SVR of 2.49 for residential mortgages.
I sought permission (consent) to let in September 2008 and this was granted for upto 2 years. I had to let the property due to a change in circumstances and having to relocate.
I am trying to figure out what they will do to my interest rate in June. The current SVR for residential is 2.49 and it is 2.99% for buy to let.
I have approx 85% LTV which will not meet any of their buy to let products.
The property is still let, and I would like to continue to do this. Do you think they would revert me to 2.49%. Does anyone know if they would be likely to extend my consent-to-let period. If so, do you think they will try and impose some sort of new interest rate.
Thanks
It is on a five year fix, that comes to an end on 30th June 2010. The rate is 5.69% If I was still living there, I guess I would then revert to the SVR of 2.49 for residential mortgages.
I sought permission (consent) to let in September 2008 and this was granted for upto 2 years. I had to let the property due to a change in circumstances and having to relocate.
I am trying to figure out what they will do to my interest rate in June. The current SVR for residential is 2.49 and it is 2.99% for buy to let.
I have approx 85% LTV which will not meet any of their buy to let products.
The property is still let, and I would like to continue to do this. Do you think they would revert me to 2.49%. Does anyone know if they would be likely to extend my consent-to-let period. If so, do you think they will try and impose some sort of new interest rate.
Thanks
0
Comments
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Ring them and ask - get the information from the actual lender rather than speculation from people you've never met on an internet forum who may/may not know the facts.0
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