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Query about second home mortgage..

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coolgirl007
coolgirl007 Posts: 39 Forumite
in House buying, renting & selling
We have our first home mtg with Hsbc and have consent to let from them....as we are not able to live in the same house because of job.

we are currently looking for second home mtg and we approched Hsbc and they refused to give loan for 2nd property but we got a resonable interest rate offered from Santender for 2nd property.Do i need to inform Hsbc about?

We are interested in going with santender for 2nd mtg...plz help with query.

Comments

  • kingstreet
    kingstreet Posts: 39,269 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    coolgirl007 wrote: »
    Do i need to inform Hsbc?
    No. You don't.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
  • evoke
    evoke Posts: 1,286 Forumite
    Tenth Anniversary Combo Breaker
    Jeez.

    Did you inform Santander than you already have a BTL mortgage on another property with another lender. That's a huge risk for them to lend on your second property.
    Everyone is entitled to my opinion!
  • Jeffrey_Shaw
    Jeffrey_Shaw Posts: 512 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    kingstreet wrote: »
    No. You don't.
    I agree. Perhaps the confusion stems from the phrase 'second mortgage'.

    Normally that means a second mortgage charged upon a property already mortgaged, where the first mortgage will be continuing. In those circumstances, the first mortgagee's consent is almost always a pre-requisite; not here, though.
  • coolgirl007
    coolgirl007 Posts: 39 Forumite
    evoke wrote: »
    Jeez.

    Did you inform Santander than you already have a BTL mortgage on another property with another lender. That's a huge risk for them to lend on your second property.


    Yes santander knows abt first mtg.
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