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Mortgage advice
wayne12_2
Posts: 1 Newbie
Hi I was wondering if anyone could offer me any advice on what kind of mortgage I should be looking at.
I have 75k left on my current mortgage and currently have 8 years left.
My current discount rate will come to an end in July and I will then be on a standard variable rate of 4.99%
I have been offered a job abroad which by the time the visa is sorted and I have served my notice at work would be looking at moving in around 5 months.
My intention was to rent out my property via a letting agency.
If I was to find another mortgage deal of say 2/3 years would I then have to change again in 5 months to a buy to let mortage?
If I simply got another deal for 3 years and let my house out would I be able to apply for another mortgage deal in 3 years if I wasn't living or working in this country (I'd be in Australia).
How is my mortgage company likely to react if I rang them up in 5 months to advise them of a change in address?
Sorry its a lot of questions but if anyone could help or suggest someone who could help I would appreciate it.
Many thanks.
I have 75k left on my current mortgage and currently have 8 years left.
My current discount rate will come to an end in July and I will then be on a standard variable rate of 4.99%
I have been offered a job abroad which by the time the visa is sorted and I have served my notice at work would be looking at moving in around 5 months.
My intention was to rent out my property via a letting agency.
If I was to find another mortgage deal of say 2/3 years would I then have to change again in 5 months to a buy to let mortage?
If I simply got another deal for 3 years and let my house out would I be able to apply for another mortgage deal in 3 years if I wasn't living or working in this country (I'd be in Australia).
How is my mortgage company likely to react if I rang them up in 5 months to advise them of a change in address?
Sorry its a lot of questions but if anyone could help or suggest someone who could help I would appreciate it.
Many thanks.
0
Comments
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If you envisage remaining down under for some length of time. Worth considering if you want the hassle of owning a property in the UK.
Not as if you can pop home to address issues.0 -
You would need a lender who would be happy to give you "consent to let" ideally without bumping up the interest rate on the mortgage.
Might be worth speaking with a broker to see if there are any available - ive never looked into it so cant think of any off the top of my head.I am a Mortgage AdviserYou 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 -
Suppose you decide that you love Oz and would like to buy property there. Would you enjoy selling your British property by remote control, including asking the tenants to leave?
Thrugelmir might well be right.Free the dunston one next time too.0
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