We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Moving mortgage
Sammie2021
Posts: 12 Forumite
Can anyone advise .... we are looking to sell our house as we had a bad patch where partner lost job and this caused financial problems. Proof can be sent to new lender. This had an impact on credit file, which is showing now that things improving, due to new job etc. Mortgage payments were always paid. We are now on a DMP. What we are hoping to find out is can we move our mortgage with our current lender as the debt is already there? We are looking to reasonably sell for £275k and our outstanding mortgage is £180k. We are then looking to get a mortgage on a house we have seen for £165k. We are also going to clear debts with the proceeds and place at least £30k on the new house plus £20-24k savings. Will they accept this
0
Comments
-
Speak to your existing lender. Lenders have a duty of care. As you are downsizing and borrowing less. No reason why they won't assist you.0
-
Thank you I’ll give them a call in the morningThrugelmir said:Speak to your existing lender. Lenders have a duty of care. As you are downsizing and borrowing less. No reason why they won't assist you.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604.1K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards