Moving into a home I already own

dhjjessel

hi

I am moving into a home I already own. It has been let out but it has a residential mortgage on it. I am looking to remortgage as soon as possible, but the high street lenders I have spoken to seem to require that I have lived in the property for at least 6 months before I can remortgage.

Can anyone suggest a lender that might not have this constraint?

Thanks

Hughie

Foxy-Stoat_3

You sure you have explained that you have owned the property for at least 6 months rather than lived there for 6 months?

I would use a good broker or wait 6 months if this is going to be an issue to the High Street lenders.

amnblog

More nonsense.

You could spend six months walking along the High Street before a Lender talked any sense.

missis_amber

It took me two years to carry out renovation works on my property and no-one lived in it. At this point my two year fixed rate deal ended and I was able to remortgage without problem. I'd been paying council tax, utilities etc in those two years and the lender didn't ask me if I'd lived in the house or not.

Thrugelmir

dhjjessel wrote: »

hi

I am moving into a home I already own. It has been let out but it has a residential mortgage on it. I am looking to remortgage as soon as possible, but the high street lenders I have spoken to seem to require that I have lived in the property for at least 6 months before I can remortgage.

Can anyone suggest a lender that might not have this constraint?

Thanks

Hughie

Perhaps they feel as if it's not your intention to live in the property but continue to rent it out.

amnblog

Thrugelmir wrote: »

Perhaps they feel as if it's not your intention to live in the property but continue to rent it out.

You are right Thrug. That is the crux of the lenders concern - explained badly by the Lender in this case.


But living in the property for six months to prove residential use is over the top.

dhjjessel

Agreed that it's a bad policy but they made it clear that it's about my having lived there for 6 months. Does anyone know of a lender that might be more reasonable?

amnblog

Yes, a good broker will.

dhjjessel

Any good brokers out there that can help?

csgohan4

dhjjessel wrote: »

Any good brokers out there that can help?

Search for your local area for brokers or go on some review websites to find some good ones where people have rated. There's a bunch on here as well. Your choice.