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Changing mortgage type
batina
Posts: 3 Newbie
Hello,
my partner and I bought a house last September and got a 2yr fixed interest contract on our mortgage.
We would now like to move to a rented property and change our existing mortgage to a "buy to let" one so we can rent the house out.
Does anyone have any experince doing this? We have been trying to make appointments with HSBC's (with whom our current mortgage is) advisors, but there are no appointments available to us for the next month.
We would really like to get things started asap but at the moment we don't even know how costly it will be to change the type of our mortgage; especially since we are still in the fixed period.
Can anyone reccomend a good mortgage advisor in London?
Thanks very much!
my partner and I bought a house last September and got a 2yr fixed interest contract on our mortgage.
We would now like to move to a rented property and change our existing mortgage to a "buy to let" one so we can rent the house out.
Does anyone have any experince doing this? We have been trying to make appointments with HSBC's (with whom our current mortgage is) advisors, but there are no appointments available to us for the next month.
We would really like to get things started asap but at the moment we don't even know how costly it will be to change the type of our mortgage; especially since we are still in the fixed period.
Can anyone reccomend a good mortgage advisor in London?
Thanks very much!
0
Comments
-
You will need to ask for Consent To Let - they may/may not agree.
You will need to pay a penalty I suspect for ending the 2 year fix early, though you may be lucky - they may keep you on the same 2 year fix and add CTL to it
You may need to pay an admin fee
They may refuse and insist you move to a Buy To Let mortgage.
Read also:
New Landlords (general information for new or prospective landlords)0
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