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Consent to let given - How easy is to buy again?
redzak
Posts: 144 Forumite
Basically, Nationwide have given me a 'permission to let' on my current flat. My current interest only mortgage payment is about £300. The rental value of the flat is £650.
I want to purchase a house and move up the 'food chain' as it were. I can probably get a mortgage of £200k and have a 10% deposit - this is assuming i was a first time buyer.
Would all lenders pretty much ignore my first flat, on the basis that Nationwide have given me permission to let the flat and the rental easily covers the actual mortgage cost? Therfore, i would be entitled to a standard mortgage from them.
Am I best just looking to get the additional mortgage with nationwide?
Or, is a new second residentential mortgage a no-goer?
Any advice on this would be appreciated before i get shunted from pillar to post by the mortgage companies.
Thanks
I want to purchase a house and move up the 'food chain' as it were. I can probably get a mortgage of £200k and have a 10% deposit - this is assuming i was a first time buyer.
Would all lenders pretty much ignore my first flat, on the basis that Nationwide have given me permission to let the flat and the rental easily covers the actual mortgage cost? Therfore, i would be entitled to a standard mortgage from them.
Am I best just looking to get the additional mortgage with nationwide?
Or, is a new second residentential mortgage a no-goer?
Any advice on this would be appreciated before i get shunted from pillar to post by the mortgage companies.
Thanks
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