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can i move ?
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alex211111
Posts: 6 Forumite
i have a property that is on interest only,i am 2k in arrears,now i am wondering if it would be possible to move to a cheaper property,(eg 10k) ,clear the arrears,and take the mortgage with me,or something similar.
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Comments
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some figures required
current mortgage? (assume this is the same figure you started with if interest only)
current house value?
If a mortgage is portable, it is the rate etc this applies to, in most cases you would still need to make an application to check the salary multiples, credit rating and LTV fit with the lenders current requirements0 -
alex211111 wrote: »i have a property that is on interest only,i am 2k in arrears,now i am wondering if it would be possible to move to a cheaper property,(eg 10k) ,clear the arrears,and take the mortgage with me,or something similar.
How do you propose paying for the costs of moving?
Will your current lender agree to such a proposal?0
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