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CTL/BTL from Abroad - Help!
Scottex99
Posts: 812 Forumite
Hi all,
I have a mortgage with the Halifax on their SVR rate - 3.99%. My property (in Edinburgh) is rented and I have CTL on the mortgage. The rent covers the mortgage. So far so good.
I recently spoke to the Halifax about my options and they basically said I had none. Zero. Apparently I can't switch to another product and the also don't offer anything in the BTL market. Seems strange to me but I'll take their word for it.
So I'm looking to re-mortgage to lower my monthly payment if possible. Property value is 140k ish and remaining mortgage is 79k. LTV should be ok BUT I work in Spain at the moment on a low salary (very low by UK standards).
Anyone think I'll be able to get anything lower than my current 4%? If you need more info just ask.
Many thanks!
Scott
I have a mortgage with the Halifax on their SVR rate - 3.99%. My property (in Edinburgh) is rented and I have CTL on the mortgage. The rent covers the mortgage. So far so good.
I recently spoke to the Halifax about my options and they basically said I had none. Zero. Apparently I can't switch to another product and the also don't offer anything in the BTL market. Seems strange to me but I'll take their word for it.
So I'm looking to re-mortgage to lower my monthly payment if possible. Property value is 140k ish and remaining mortgage is 79k. LTV should be ok BUT I work in Spain at the moment on a low salary (very low by UK standards).
Anyone think I'll be able to get anything lower than my current 4%? If you need more info just ask.
Many thanks!
Scott
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