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!
Permission to Let, or LTB??
qwertyqwerty
Posts: 143 Forumite
Hi
I am looknig to buy a house with my partner and so would like to rent out the house I am currently living in. I have a mortgage with halifax but am not currently tied down to a deal. i was just wondering would it be best to ask halifax for permission to rent my house out, or should I switch to a Let to Buy mortgage with another provider? I am concerend about having to pay extra fees and the jump in interest rate, so wanted to know which would be the best route to go down?
Thanks,
I am looknig to buy a house with my partner and so would like to rent out the house I am currently living in. I have a mortgage with halifax but am not currently tied down to a deal. i was just wondering would it be best to ask halifax for permission to rent my house out, or should I switch to a Let to Buy mortgage with another provider? I am concerend about having to pay extra fees and the jump in interest rate, so wanted to know which would be the best route to go down?
Thanks,
0
Comments
-
We don't know. If you could let us have the comparative costs involved in each option I'm sure we'd then be able to tell you the lower cost option is the one which is best.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.0
-
Thanks but I don't know the comparative costs involved, hence why I am asking the question.0
-
Generally best to get consent to let, this will also be more flexible, in that if you do decide to sell in 6 months there would be no penalties attached.I am a mortgage adviser.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.0
-
If Halifax insists on a change of product, fee and ERP for three years as a condition of consent to let, we don't know if that will be better than the remortgage alternatives.
https://forums.moneysavingexpert.com/discussion/3434939
Without the OP actually finding out his options and what they'll cost we can't help. Once he does so, the answer will probably be obvious.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.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