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Changing jobs & changing mortgage
dancing_star
Posts: 315 Forumite
Basically - I have a mortgage of c. £40k on my current property. I have been offered a new job in a different area. My interest rate is portable.
However, the sticking point is that due to the nature of my job (training position) the probationary period is 12 months before a permanent contract is given. My current lender, Halifax, confirmed they would not offer a new mortgage while I'm in the probationary period.
Ideally I would like to sell this property and buy a new one in the new area. Does anyone know of a lender who would lend to me in a probationary period? I'll have a substantial deposit, ideally from selling this place, and an inheritance that is due to come through in a couple of months time.
The alternatives as I see them are
1 get Consent to Let on my current property, and rent somewhere for a year in the new place. Then when I pass probationary period, sell up and buy somewhere in new area
2 get Consent to Let on current property, rent it out, and use inheritance as deposit on new property but I would still need to find a mortgage lender who'd lend to me in probationary period.
I don't really want to rent it out anyway, too much hassle. I'd rather get shot of it.
Has anyone got any suggestions or bright ideas that I haven't thought of?
Many thanks
However, the sticking point is that due to the nature of my job (training position) the probationary period is 12 months before a permanent contract is given. My current lender, Halifax, confirmed they would not offer a new mortgage while I'm in the probationary period.
Ideally I would like to sell this property and buy a new one in the new area. Does anyone know of a lender who would lend to me in a probationary period? I'll have a substantial deposit, ideally from selling this place, and an inheritance that is due to come through in a couple of months time.
The alternatives as I see them are
1 get Consent to Let on my current property, and rent somewhere for a year in the new place. Then when I pass probationary period, sell up and buy somewhere in new area
2 get Consent to Let on current property, rent it out, and use inheritance as deposit on new property but I would still need to find a mortgage lender who'd lend to me in probationary period.
I don't really want to rent it out anyway, too much hassle. I'd rather get shot of it.
Has anyone got any suggestions or bright ideas that I haven't thought of?
Many thanks
0
Comments
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dancing_star wrote: »1 get Consent to Let on my current property, and rent somewhere for a year in the new place. Then when I pass probationary period, sell up and buy somewhere in new area
There's the additional positives of getting to know the new locality much better. Personally I would opt for this option. As leaves all doors open.0
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