Worried about remortgaging

niikk

Thrugelmir wrote: »

Moral dilemma ? Good luck if that's your attitude. I'll move on now as not one to waste my breath. However will leave you this link to illustrate how seriously lack of good faith is taken in the industry.

A lot of people have dreams and plans, general thoughts and visions etc., some which might become reality, some which may not. I don't know what you're expect me to do. My point was that I'd rather focus on the questions I have asked. Also, our mortgage broker is aware of these different scenarios, and as I said, they are not certain at this stage.

cherylsurrey

I have done 2 rate switches with my bank when our mortgage deals have come to an end, me and my husband are both self employed, and as long as you are just doing a rate switch and not wanting to borrow more or change the term, we have never been asked for accounts. (we were only asked for accounts when initially applying for the mortgage)

In both cases, we stuck with our current lender even though we both had good accounts, it was less hassle and the rates were some of the best out there.

Berger_3

If you want to switch to a new mortgage product with your current lender there won't be any issues, if you want to remortgage to another then you might. Assuming your current lender has relatively decent deals in two years there isn't an issue.

niikk

Berger and cherylsurrey, thank you so much for your comments! They feel very reassuring and in line with what our mortgage broker told us. As mentioned, we got a few great options on 2-year fixed, but I'll take an extra careful look at what the different lenders have to offer on a longer term, their SVRs etc. before I decide which one to go for. Thanks again.

Niikk

getmore4less

Another option if you are keeping a fair amount of cash in savings and to fund the business would be an offset some operate on an interest only basis if your LTV/Income quailfy this might help with cashflow till you get going.