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cheshire/nationwide
bandit598
Posts: 2 Newbie
just about to move house/port mortgage i have an interest in another property which will be used as the repayment vehicle .all was well until the cheshire decided it will be classed as a new mortgage and wont accept the existing arrangement having paid for a valuation of the new property ..i have a 999 credit rating and at least 60%equity would mean reverting to repayment would make things tight initially. I thought it was just a simple matter of transfer not a long drawn out costly affair any ideas on what to ask ? or avenues to look ? ps have never missed a payment of any kind in my life ..are they being over cautious considering that if i was unable to pay the amount at end of term .they woudnt lose out with the amount of equity in the property.
0
Comments
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Sounds like you simply don't meet their lending criteria. Is the equity at least £150k?0
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An interest in another property isn't a repayment vehicle.0
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