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Expenses affecting loan/remortgage
hi all,
can anyone advise...
we are looking to finance renovations and were thinking of remortgaging to do so. However, I have needed to rent a property in my name for my father to live in temporarily. My father pays for this by giving me the money each month. This arrangement will end in six months time.
Question: would this current arrangement have an impact upon an application for remortgaging? Would that impact be avoided if we wait 6 months?
Many thanks in advance.
can anyone advise...
we are looking to finance renovations and were thinking of remortgaging to do so. However, I have needed to rent a property in my name for my father to live in temporarily. My father pays for this by giving me the money each month. This arrangement will end in six months time.
Question: would this current arrangement have an impact upon an application for remortgaging? Would that impact be avoided if we wait 6 months?
Many thanks in advance.
0
Comments
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It's all about affordability, is you income sufficient to cover your outgoings including the re-mortgage?
Keep in mind that a mortgage is a very expensive way to finance anything but buying a home, the interest rate will be lower but the term longer.0
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