Noticed some changes? You can read all about the improvements we've made on the Forum in our latest announcement. We also have a new set of Forum rules so please take the time to give them a read and familiarise yourself.

BTL application at DIP stage-wait to remortgage residential mortgage?

edited 30 November -1 at 1:00AM in Mortgages & Endowments
ran123ran_2ran123ran_2 Forumite
71 Posts
edited 30 November -1 at 1:00AM in Mortgages & Endowments
I am looking for some advice. I have just got DIP for a BTL mortgage on a small flat. I can see the lender has done a credit search on my file. I have sent copy statements, etc but everything still has to be reviewed by underwriters.

I'm also looking to move my residential mortgage to a new lender.
I went through the application (all paper based - not system based) before I did my BTL but had asked the mortgage advisor not to send on the application as I didn't want any credit checks to hinder a potential BTL mortgage. If my offer on the BTL property didn't get accepted then the mortagge advisor would have sent the application.

Can anyone advise at what stage I should continue with my residential remortgage?
Once I get a formal BTL offer?
When I have accepted the BTL offer?
Once I have completed on the BTL property?
Or just do it now?

Thanks.
This discussion has been closed.
Latest News and Guides

New plastic £50 note in circulation

Inventor and codebreaker Alan Turing is pictured

MSE News

TV MoneySaving tricks

How to save on Sky, Netflix, Now TV, Prime Video and more

MSE Guides

Pret subscription loophole

Get a month's worth of free smoothies, frappes, coffee etc

MSE Deals