We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
buy to let - remortgage to release equity
mane1034
Posts: 58 Forumite
I applied for re-mortgage to release equity for the home Im living for last 10 years. The new mortgage is buy to let.
The lender for remortgage is different to my current residential mortgage lender.
My question is how long this process would take and also how the valuation process works for remortgage as ?
Thanks for all help....
The lender for remortgage is different to my current residential mortgage lender.
My question is how long this process would take and also how the valuation process works for remortgage as ?
Thanks for all help....
0
Comments
-
Valuation process will give the value of the property and its rental value. So the lender can see what the place is worth and what it is likely to achieve in rent.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
-
Thanks..... what if they say valuation is less than what I put in my application. will they reject my application or will offer at lower valuation?
Also how long this process takes on average as no actual selling and buying is involved?0 -
They'd just offer you less as long as the rental income satisfied. The lender'd get in touch with you to arrange valuation if they are doing the valuation visit.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.2K Banking & Borrowing
- 254.7K Reduce Debt & Boost Income
- 455.8K Spending & Discounts
- 247.9K Work, Benefits & Business
- 605K Mortgages, Homes & Bills
- 178.8K Life & Family
- 262.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards