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Mortgage application barclays

jaytol
jaytol Posts: 13 Forumite
in Mortgages & endowments
I 'm due to have a mortgage application interview with Barclays this week. One of the questions is ' How long do you intend staying at the property'.

How would this affect their decision ? I probably plan to sell the property after 5 yrs which would also be the end of the 5 yr fixed deal i 'm applying for.
Is this a bad idea to say i'm selling so soon . I'm a ftb.
Thanks

Comments

  • ACG
    ACG Posts: 24,896 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    You plan to be there for 5 years, so they will probably rule out deals that have 10 year tie in periods.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • jaytol
    jaytol Posts: 13 Forumite
    edited 5 July 2015 at 11:33AM
    I don't want more than a 5 yr deal anyway so that wouldn't be an issue. It's more profitable for them if you stay with them for the full term , so would not staying with them affect the amount they 'll lend , interest rates or deals they'll offer.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    jaytol wrote: »
    I 'm due to have a mortgage application interview with Barclays this week. One of the questions is ' How long do you intend staying at the property'.

    How would this affect their decision ? I probably plan to sell the property after 5 yrs which would also be the end of the 5 yr fixed deal i 'm applying for.
    Is this a bad idea to say i'm selling so soon . I'm a ftb.
    Thanks

    Nothing to do with their decision. Guides them to suggest the most suitable mortgage products from the ones they have currently have.
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