Mortgage and Renting at the same time

danmartin1

Hi,
I and my family need to relocate within the next 3 months due to a new job, we've sold our house (STC) and are now excitingly looking for our new home in the new area.
We've discussed our house move with our lender a few months ago before the fixed start date of the new job was agreed about moving and they said there wouldn't be an issue with us moving our mortgage to a new property.
However, it's unlikely that a house purchase will proceed to completion within 3 months so we will need somewhere to live in the interim between having an offer accepted on a new house and completing and moving.
So, we're thinking about renting in our new area on a short (6 months) tenancy. We've done the sums and we can afford to pay our mortgage payments and rent on the size of the rented property we'd need. 
We're a little concerned that the fact we would have committed to pay 6 months of rent on top of the mortgage could scupper our chances of our lender accepting our application to move our deal as I'm told it's in effect a new application. If we weren't relocating then the traditional buying/selling process would work fine, but the new job is just too far to commute.
Just wondering if anyone else has done something similar with regards to a re-location?
Thanks in advance.

moneysavinghero

Your old mortgage will no longer exist when you buy the new place - it will have been paid off when you complete on your current property.

Is getting a new mortgage such a great problem? Lots of good deals about at the moment so not like you will getting a really bad deal compared to what you are on at the moment.

Tallulah_Chicken

I'm assuming you are talking about porting your existing mortgage to the new property? In which case, it will likely be treated as a new application by your lender in terms of affordability checks etc. in any case.  If you're asking whether your lender will take your rent into account in an affordability check then the answer is likely to be no, as long as you will not continue to pay this after you complete on the new property.