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woolwich/Barclays consent to let

Old_Git
Old_Git Posts: 4,751 Forumite
Part of the Furniture 1,000 Posts Mortgage-free Glee! Cashback Cashier
in Mortgages & endowments
i want to rent out my house and buy a new house .
No mortgage needed for new house .
My mortgage is interest only at 0.68% .
I currently owe £18,000 .

How would barclays deal with this if I asked for consent to let .
I dont want to loose my low interest rate .
And as the amount owed is low its not worth looking for a new lender
"Do not regret growing older, it's a privilege denied to many"

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Old_Git wrote: »
    I dont want to loose my low interest rate .

    Even with an interest loading for CTL. Still be highly competitive.

    CTL will only last for a period of say 3 years. So you may need to consider your options.
  • Old_Git
    Old_Git Posts: 4,751 Forumite
    Part of the Furniture 1,000 Posts Mortgage-free Glee! Cashback Cashier
    Thrugelmir wrote: »
    Even with an interest loading for CTL. Still be highly competitive.

    CTL will only last for a period of say 3 years. So you may need to consider your options.
    three years is good ,but what are the other options .I want to clear it in 2 years max
    "Do not regret growing older, it's a privilege denied to many"
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Old_Git wrote: »
    three years is good ,but what are the other options .I want to clear it in 2 years max

    Ask your lender first. Anything else is speculation currently.
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