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HSBC consent to let after the event
Poolman99
Posts: 18 Forumite
Hi, I moved out of my house in a hurry a year or so ago and got a tenant. I know I should have obtained consent to let from HSBC but wasn't sure what my plans were and just forgot about it.
I'm now in the position where I want to sell that house and within 6 months of the completed sale port that mortgage to a new house. I can't see a way through without leaving myself at HSBC's mercy for not previously disclosing. When you port, at the time of selling, you must say you intend to "park the rate" and go through fresh affordability checks. While I have no issues with affordability, the credit check will show I don't live there any more.
I'm wondering whether it's better just to sell, pay off the balance and hold the equity as cash for a few months before going shopping for a new mortgage elsewhere. The existing mortgage is for £78k at 1% above base for the remaining term of 12 years. Porting this will really help us keep the monthly payments low in our new house.
Any advise on a route through? Am I worrying about nothing?!
Many thanks, Rob.
I'm now in the position where I want to sell that house and within 6 months of the completed sale port that mortgage to a new house. I can't see a way through without leaving myself at HSBC's mercy for not previously disclosing. When you port, at the time of selling, you must say you intend to "park the rate" and go through fresh affordability checks. While I have no issues with affordability, the credit check will show I don't live there any more.
I'm wondering whether it's better just to sell, pay off the balance and hold the equity as cash for a few months before going shopping for a new mortgage elsewhere. The existing mortgage is for £78k at 1% above base for the remaining term of 12 years. Porting this will really help us keep the monthly payments low in our new house.
Any advise on a route through? Am I worrying about nothing?!
Many thanks, Rob.
Regards
Mark
Mark
0
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