Re-mortgaging when unemployed

Lamenter

Hi all,
I understand that there are other posts when concerning this topic but they are either old or not entirely relevant to my problem. So, bare with me please.

I had a 2yr fixed rate mortgage from Aliance and Leicester that has now expired so i'm on the variable rate now. So, i'm now looking to re-mortgage. There are two problems though, the first is that i'm unemployed and the other is that i'm renting the house out to someone (my mortgage company know about this).

Does anyone know if i can get a normal fixed rate mortgage? From my situation i understand that i can't go to another mortgage lender because they'll reject me on the account of being unemployed. The only option i see is if my current mortgage lender will let me re-mortgage without asking if i'm employed or not. But, then they might say you're renting it, so you'll need to get a buy to let mortgage. Is there some option that i've overlooked?

Not entirely sure how to go about this. Please help!!

Lamenter

kingstreet

Changing products with the same lender isn't a remortgage. You could ask Santander if they have any customer retention products for borrowers in your position, but I think that's unlikely.

You're on SVR for foreseeable future, I'm afraid.

Jimbo1976

As the property is let out, your only option would be a buy to let mortgage. Whilst these are normally based on the rental your property receives rather than your own personal income, the lender would still want you to have some income from employment or self employment. So remortgaging isn't an option.

As you thought and Kingstreet has confirmed, your only option is to speak to A&L/Santander and to ask them what rates it will offer you.

Lamenter

okay, thanks for your input.