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Selling a Mortgaged house after 3 Months
entwistle18
Posts: 59 Forumite
Hello
I would like to sell a house that we have owned for 3 months. We had taken out a buy-to-let mortgage but have decided to sell it. Is there any problem with this in regards to a new person getting a mortgage on the property? I understand that I will have an early repayment charges
Thanks
I would like to sell a house that we have owned for 3 months. We had taken out a buy-to-let mortgage but have decided to sell it. Is there any problem with this in regards to a new person getting a mortgage on the property? I understand that I will have an early repayment charges
Thanks
0
Comments
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You normally have to wait 6 months from buying to selling before lenders will give a new mortgage but I think by the time you have found a buyer and done all the legals, searches, surveys etc the 6 months will have passed0
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And most house are let on the basis of a standard 6 month tenancy, if only because you have to wait 6 months before you can issue a s21 notice.0
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Cash buyers only until 6 months have passed, no bank will accept a mortgage application until a property has been owned at least 6 months.0
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May take 3 months to find a buyer.0
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That isn't the case. Some lenders operate the "six month rule" but there are others who have no problem with a property which has not been in its present ownership for that period.Cash buyers only until 6 months have passed, no bank will accept a mortgage application until a property has been owned at least 6 months.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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