Remortgaging but need to rent for a year in the future

mjad_2

Hi, I'm getting lost going around the internet. My current mortgage deal with Nationwide expires in March so I need a new deal but I know that I will be travelling for a year, from the end of the year.

I don't know how to find a good mortgage deal that I can ensure I don't get charged too much additional interest for during that rental year.

Any ideas or pointers?

Many thanks in advance.

betmunch

Consent to let is on a case by case basis, also whoever currently has a good reputation for it now may not in the future.

Changing lender for a new fixed rate may cause more problems than its worth.

Why not stick on variable rate for now, assess your options when you travel, and then again when you return?

mjad_2

Thanks for the advice, the problem is that the new variable increases to 3.99% so it's not cheap to leave it. I think that I need to make a decision one way or the other and I guess put up with the outcome?

Thrugelmir

Nationwide will charge you for CTL after 6 months has elapsed. An additional 1% will be levied.