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Do any mortgages allow a switch while letting?
JoeChimes
Posts: 1 Newbie
I have a home loan from Nationwide. I am about to move house and let the existing property. Nationwide say that when my deal ends, I will not have the option to switch to a new deal for so long as I am letting the flat, and will simply revert to the standard rate. Is this standard across lenders?
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Comments
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Lenders set their own terms. Letting on a commercial basis will often incur an interest loading or requirement to move product. Residential mortgages are priced to buy not let.0
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They're certainly not the only lender to take this approach.Slummy mummy!0
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