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converting to BTL mortgage???
liinsh
Posts: 8 Forumite
Hi,
I need some advice please. I am considering renting my house and therefore have come to learn that I might need to switch to a BTL mortage - I am currently with the woolwich. Does anybody have any experience with the woolwich and BTL?
Will I be hit with fees and an interest hike or should I consider approaching an alternative lender (I have 50% equity). I live abroad and this was my home until my mother passed away recently so reviewing my options and would prefer to be armed with information before I contact woolwich.
TIA!
I need some advice please. I am considering renting my house and therefore have come to learn that I might need to switch to a BTL mortage - I am currently with the woolwich. Does anybody have any experience with the woolwich and BTL?
Will I be hit with fees and an interest hike or should I consider approaching an alternative lender (I have 50% equity). I live abroad and this was my home until my mother passed away recently so reviewing my options and would prefer to be armed with information before I contact woolwich.
TIA!
0
Comments
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Hi,
Best to ask if you can get Consent to Let ("CTL") as this would likely keep your same mortgage rate.
How come you live abroad if you have a residential mortgage at the property? Woolwich probably wouldnt be to pleased to hear about that!
Gary.0 -
My mum and I jointly owned the house (and mortgage) and I lived there until I moved abroad, mum continued to live there. Since she passed away a friend is housesitting whilst I consider my options. However I think i'd prefer to let the house so that one day I can live in there again...0
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Just ask for consent to let0
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