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Would it be possible to port? All advice appreciated!
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question along the same theme.
I have a property 1 worth 180k bought 9 years ago. 2 years ago we rented it with permission to let to move due for job reasons. A year ago we bought a property 2 near the work place. LTV and affordability were no issues.
The problem now is the lender says the permission to let in P1 is only max 2 years and I need to move to BTL mortgage. The mortgage product on property 1 is very good and I would like to keep it. I would like to port the mortgage from property 1 to property 2. P1 mortgage is portable with Barclays. I understand Barclays may say porting to already owned property 2 from property 1 is not possible. Any suggestions either to keep residential mortgage in P1 or port mortgage from P1 to P2 will be appreciated. The amounts are similar and LTV in both properties is around 50%.
Thank you0
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