HTB and porting mortgage issue

jonomassey

Hi,

I have had my mortgage offer through from Santander and my solicitor has had the HTB authority to exchange rejected due to the fact that I'm porting my current mortgage deal over as part of the new mortgage offer. My mortgage broker is on holiday but his colleague has looked into this for us and is waiting for a call back from the HTB regulator. She said that they had done 100's of mortgages in the past and had never had any issues like this.

Has anybody come accross this before?

Any advice would be much appreciated.

kingstreet

I've never known a lender permit a port to an HTB mortgage. Halifax certainly won't allow it, nor NatWest. Abbey/Santander also has specific HTB Equity Loan products.

I can't see why it makes a difference to the HTB Agent, TBH but if its a scheme rule we don't know about then that appears to be it.

jonomassey

HTB standing their ground on this. My mortgage advisor will now need to change the product code and we'll have to pay an early redemption fee. We're supposed to be completing this week, how long would it take to change the product on the mortgage? Would it require going back through the underwriter? Mortgage is with Abbey/Santander.

Thanks in advance