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additional borrowing from existing mortgage before appltying consent to let
user1168934
Posts: 565 Forumite
Does anyone know how long I have to wait if I borrow additional money from existing mortgage today and then want to apply for a consent to let for the same property?
The whole story is that I am trying to buy a property but falling short of a short amount. I have another 2 years left on the fixed rate term so I cannot remortgage. I spoke with my mortgage broker who said I can borrow the amount I need without paying penalty but I wont be able to apply consent to let at the same time. So does anyone know how long I have to wait in between.
Any pitfalls I should be aware of?
The whole story is that I am trying to buy a property but falling short of a short amount. I have another 2 years left on the fixed rate term so I cannot remortgage. I spoke with my mortgage broker who said I can borrow the amount I need without paying penalty but I wont be able to apply consent to let at the same time. So does anyone know how long I have to wait in between.
Any pitfalls I should be aware of?
Marriage is hard. Divorce is hard. Choose your hard.
Obesity is hard. Being fit is hard. Choose your hard.
Being in debt is hard. Being financially disciplined is hard. Choose your hard.
Communication is hard. Not communicating is hard. Choose your hard.
Life will never be easy. It will always be hard. But you can choose your hard.
Obesity is hard. Being fit is hard. Choose your hard.
Being in debt is hard. Being financially disciplined is hard. Choose your hard.
Communication is hard. Not communicating is hard. Choose your hard.
Life will never be easy. It will always be hard. But you can choose your hard.
0
Comments
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What did the broker say when you asked them?0
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Will your lender release money for the purpose you intend.
Will increasing your borrowing on property 1 impact on your ability to borrow for property 2.0 -
AnotherJoe wrote: »What did the broker say when you asked them?
I did not ask them because I was not considering this option before. I went to find out if it is worth remortgaging to release equity and how much I can release so most of the discussion was around these points.Marriage is hard. Divorce is hard. Choose your hard.
Obesity is hard. Being fit is hard. Choose your hard.
Being in debt is hard. Being financially disciplined is hard. Choose your hard.
Communication is hard. Not communicating is hard. Choose your hard.
Life will never be easy. It will always be hard. But you can choose your hard.0
This discussion has been closed.
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