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Advice required
Wilson8
Posts: 1 Newbie
Hi
We currently have second mortgage with NRAM which my husband got around 9years ago. We were unable to sell the house at the time we moved in together so have been renting it out for the last 3years or so with the consent of NRAM, they have now informed us that we can no longer do that and we have to sell the house or find a mortgage with a new lender. We have never missed any payments and are on a standard variable rate. Houses are not selling where the house is and we haven't got thousands and thousands of equity so we are guessing we won't be able to get a buy to let mortgage with another lender. Has anyone got any suggestions?
Thank you in advance
We currently have second mortgage with NRAM which my husband got around 9years ago. We were unable to sell the house at the time we moved in together so have been renting it out for the last 3years or so with the consent of NRAM, they have now informed us that we can no longer do that and we have to sell the house or find a mortgage with a new lender. We have never missed any payments and are on a standard variable rate. Houses are not selling where the house is and we haven't got thousands and thousands of equity so we are guessing we won't be able to get a buy to let mortgage with another lender. Has anyone got any suggestions?
Thank you in advance
0
Comments
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Best bet is to find a local mortgage broker/IFA from unbiased, and see if you can remortgage onto a BTL mortgage (assuming you wish to continue renting it out)."If you will change, everything will change for you." - Jim Rohn
I simply use these forums to share my knowledge, reinforce my learning and experience as an IFA. Please remember, if your circumstances are complex, speak with your local IFA from Unbiased or VouchedFor directories for regulated financial advice.0 -
Move back in and sell the house you live in.0
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