Getting a mortgage while renting

edited 31 July 2017 at 10:30AM in Mortgages & endowments
1 reply 1.6K views
gemgems88gemgems88 Forumite
4 Posts
edited 31 July 2017 at 10:30AM in Mortgages & endowments
Hello,

So I currently live in London and I am renting a flat which the lease is up on in Feb 2018. I am originally from Northern Ireland and plan to move back there once my lease is up.
I have found my ideal home and can afford the deposit on it now, I have a job lined up but obviously wont start it until after my move.

I am wondering, would I be able to get a mortgage on the house now and pay it until I move or would it go against me that I would be paying rent at the same time.

Thanks

Replies

  • lspell1lspell1 Forumite
    72 Posts
    Sixth Anniversary 10 Posts Name Dropper Combo Breaker
    Forumite
    Yes, it would go against your affordability the fact that you were still paying rent as well as your mortgage.
    Also, most lenders have a requirement that you move into the mortgaged property within a certain amount of time. Within 28 days for example.
    I would try and get in touch with the landlord and see if they'll let you leave early. No doubt they will charge for this, but seems like the best solution!!
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