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Consent to lease
Lyndsey_smith
Posts: 1 Newbie
Hi please can someone help me I'm at the end of my tether!
At the moment I have a property on a consent to lease mortgage with Halifax, the house is valued at 56000 with them and we have just over 6000 remaining.
Our problem is that we are looking to buy a second property, when we enquired about it they said that we can release 21000 for a deposit and 54000 on a new mortgage. That was amazing as the consent to lease would be on on interest only as we will be selling in a year or 2. We have found our perfect house and put an offer which was excepted!
But know Halifax is saying cos it is a consent to lease mortgage they won't release anything unless it's for home improvements! So it has totally messed our chances up!
My question is can they actually do this and if they can what other options do we have? Can we remortgage it instead as a new consent to lease or are we better off remortgaging with a different lender.
Our only problem is if we change lender it could take to long cos the house we are after is a reposition.
Any help you can give would be great cos I don't think I can take much more x
At the moment I have a property on a consent to lease mortgage with Halifax, the house is valued at 56000 with them and we have just over 6000 remaining.
Our problem is that we are looking to buy a second property, when we enquired about it they said that we can release 21000 for a deposit and 54000 on a new mortgage. That was amazing as the consent to lease would be on on interest only as we will be selling in a year or 2. We have found our perfect house and put an offer which was excepted!
But know Halifax is saying cos it is a consent to lease mortgage they won't release anything unless it's for home improvements! So it has totally messed our chances up!
My question is can they actually do this and if they can what other options do we have? Can we remortgage it instead as a new consent to lease or are we better off remortgaging with a different lender.
Our only problem is if we change lender it could take to long cos the house we are after is a reposition.
Any help you can give would be great cos I don't think I can take much more x
0
Comments
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Lyndsey_smith wrote: »My question is can they actually do this and if they can what other options do we have?
They are under no obligation to lend you money.
Contact a local broker. As you'll need to find a lender that will release funds upon remortgaging your property.0
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