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House move after 12 months - Do Mortgage Lenders frown upon it?
Comments
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DiscoCat54 wrote: »Thanks, Michaels. Whilst the house prices here are reasonably high the rental values are quite low in comparisson and the potential rental figure I have been given doesn't cover the mortgage payments
Losing £100 per month on rent might still work out cheaper than losing 30k on sale plus stamp duty of new purchase unless you think the move is going to be pretty long term/permenant?I think....0 -
I suspect that it will be a long term move. Once my mother's future has been decided I'll need to support my father. His garden means the world to him and anything that I can do to let him stay in his home for as long as he can will be worth it.
Incidentally, I was under the impression that in order to get permission from your lender to let your property you needed the mortgage payments to be covered by your rent. Is this not the case?0
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