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Remortgage
Conrod99
Posts: 1 Newbie
Hi - We have a mortgage on the property we live in with an LTV of 26%. We would like to move the mortgage to another provider.
We also have a property which is mortgage free which we rent out.
My question is:
Should we tell the (possible) new provider about the 2nd mortgage free rented out property when we apply for the mortgage with them?
Do we HAVE TO tell the possible new provider about the 2nd property?
Will this information make them MORE or LESS likely to lend us the money?
Thanks for your help
We also have a property which is mortgage free which we rent out.
My question is:
Should we tell the (possible) new provider about the 2nd mortgage free rented out property when we apply for the mortgage with them?
Do we HAVE TO tell the possible new provider about the 2nd property?
Will this information make them MORE or LESS likely to lend us the money?
Thanks for your help
0
Comments
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You should if they ask because they may discover it subsequently and be suspicious of the reasons why it has been hidden.
I can think of no reason why declaring would be other than beneficial for you.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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