We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
What happens to your mortage if you have to rent?
katie_j_2
Posts: 23 Forumite
We have an existing mortage with C&G and will be adding to it by 20k but as we sold our house a while ago and have not found anywhere to suit us yet, it's looking likely that we will have to rent for a few months. Can someone tell us what happens to our mortgage agreement? Will it just be put on hold for a while or will we have to apply all over again? Thanks
Grocery Challenge 2012 
January £300
(Us two, 2 kids, 2 cats and 1 rabbit)
0
Comments
-
Your existing mortgage will be redeemed when the property is sold.
When you find the property you wish to buy you'll need to go through the whole application process again.0 -
Oh really, that's very annoying. Thanks anyway for your comment.Grocery Challenge 2012
January £300(Us two, 2 kids, 2 cats and 1 rabbit)0
-
If porting the loan then some lenders will hold the deal for a while.
Any ERC may have to be paid and refunded later if the funds are drawn in time.
Even porting you still have to go through a similar process to a new loan.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards