Keyworker Remortgaging?

JT200

Does anybody know anything about remortgaging when you have bought your home with a keyworker loan? Do banks and building societies place restrictions on these types of remortgage?
I'm banging my head against a brick wall trying to get sense out of the Association who arranged the purchase. I know it's a fairly small market but I'd be so grateful for any advice! My fixed rate ends in April and I'm desperately looking to secure another one before the rates go up again!

dangeroussports

I too am keyworker.

I contacted my loan people, metropolitan home ownership (MHO),they informed me that so long as there are no variations to the mortgage then they dont care who I go through so long as they are kept in the loop. For instance if I stay with my current mortgage (halifax) then all they would do is write a letter through the banks solicitors and get MHO to sign it. MHO have a second charge on the property.

However IF there are variations to the mortgage, for instance you take out equity, then MHO want to approve what the extra mortgage will be for! THey accept equity pull out for home improvements and not debt consolitation.

Either way your solicitors or the banks solicitors would write to the keyworker people informing them of the new mortgage. The keyworker people would have to accept it so long as there are no variations.

JT200

Thank you very much for that, hope Tower are as straightforward! Do you know if lenders place any restrictions on keyworker remortgaging?