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Remortage on buy to let question
Comments
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I'm happy to go elsewhere but I'm just curious as to how they would view the shortfall now. Having said that, they agreed the initial mortgage based on what an EA told me the rental value of the property was so perhaps they will be flexible?
Your current lender will certainly alow you to retain a mortgage with them. I would first check with them to see if they can offer any incentive to stay. If you don't like their offer then by all means, have a look elsewhere.
It has been mentioned that other lenders will look at a remortgage for you, I wasn't aware there were lenders allowing a rental income below 100% of mortgage payment I have to admit, but we are continually trying to keep up with specific lender's criteria in this industry.
Note also that Buy To Let arrangement fees have sky rocketed in the last 12 months so balance any costs over the scheme period of the new mortgage.
HTH, Andy.0 -
Thanks for your replies all.0
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