Remortgaging - as quick as possible

notaclue2018

I need to remortgage fairly swiftly to a buy to let mortgage from a residential one.

My current lender doesn't do BTL so i will need to switch lenders. I am going to use Which? mortgage brokers.

What tips do people have for making the process go as quickly as possible? What kind of documents shall i start gathering? Do I need hard copies?

I currently posted overseas as a diplomat which the broker thinks may limit my choices.

Roughly how long does a remortgage take do you think? I'm not on the electoral roll (overseas voters don't show up on credit reports) but the broker doesn't think this will be a problem if i can provide other ID and proof of address in the UK.

Thank you

amnblog

Why is speed important?

This does not sound like a case that will resolve quickly.

Tiglet2

I am currently in the middle of remortgaging. Went through a broker for ID checks, affordability etc etc. That all went well and was quick. A full mortgage offer followed after a few days. That was in October 2017. Since then I have had to deal with the lender's solicitors (touted as "free legal work"), who have frankly been awful. Still not had a completion date set, even though every time I have been asked for further information, I have provided it within a day. My fixed rate deal has come to end with the current lender so I'm now on the standard variable rate at a much higher interest rate, so it is costing me money every day that I'm waiting to complete.

Since most of the big lenders seem to use the same company to do the legal work, you would be very lucky if yours completes quickly.

amnblog

Our OP is not now UK resident which is a major complication.

notaclue2018

To be clear, I am a crown servant, all my salary is paid and taxed in the UK etc. It's not like I've moved overseas permanently.

Speed is necessary because i am not sure my current lender will renew my consent to lease. (I accidentally let it lapse). I am also checking how quickly I can get the tenants out in case needed.

It's a shame you all think it will be complicated. I'm a bit surprised. I thought it was a fairly straightforward process.

Thrugelmir

notaclue2018 wrote: »

Speed is necessary because i am not sure my current lender will renew my consent to lease. (I accidentally let it lapse). I am also checking how quickly I can get the tenants out in case needed.

Have you asked?

Tenants have rights (and they tend to know them inside out). If the worst situation occurs could be months rather than days. Even using the legal process.

notaclue2018

I'm waiting for their response, but i want to be ready to act if it is not granted.