Deed of postponement?

TheLeonC

Hello hope you are all well. 

I’m currently in the middle of doing a product transfer and we used Help to Buy to purchase our property, I thought I would double check with help to buy to ensure they didn’t need to be made aware. I knew if I was remortgaging I would need to complete a deed of postponement, but as I’m literally just changing interest rate didn’t think this would be needed. After talking to them they have asked for a letter from the bank to say I don’t require to complete the deed of postponement? Upon talking to my advisor he said he has never had to get this in writing before and the bank were equally as confused!
anyone had this or have any knowledge on this please. 

Thank you 

Thrugelmir

If you are remaining with your existing lender then the status quo is maintained. There's no need for any legal changes. HTB advisor may well have misunderstood the nature of your call. 

TheLeonC

Thrugelmir said:

If you are remaining with your existing lender then the status quo is maintained. There's no need for any legal changes. HTB advisor may well have misunderstood the nature of your call. 

I did think this may be the case but I called back and pretty much said in the most basic terms that everything is staying the same other than the rate, and initially the advisor said it wouldn’t be required but after speaking to an ‘expert’ he said that they would require a letter from the bank saying it’s not required for ‘auditing purposes’

kingstreet

Not the case.

You are not remortgaging. There will be no change in your mortgage deed so no need for a deed of postponement.

Continue with what you are doing as you have no need to contact Target at all.