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Snookie12cat
Posts: 805 Forumite
I am selling my house but my buyer did not get approved for the mortgage .We have given a deadline to get an offer in with another lender but failing that I will remortgage my property and rent it out to break the chain.
The question I have is, do I apply for this remortgage BTL now so it is in place ready if/when he does not get his offer or do I wait until the end of the deadline I gave and then apply? The later will add weeks onto completion though. If I apply now and I get an offer, if I do not have to use it, thats great - but if I do it would speed things up?
Any suggestions?
The question I have is, do I apply for this remortgage BTL now so it is in place ready if/when he does not get his offer or do I wait until the end of the deadline I gave and then apply? The later will add weeks onto completion though. If I apply now and I get an offer, if I do not have to use it, thats great - but if I do it would speed things up?
Any suggestions?
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Comments
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Is the deadline you've given achievable?0
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Yes, I think so. 1.5 months which I believe would be plenty but as you can imagine, it's pushing everything out massively if they don't get it at the end of that time.Thrugelmir said:Is the deadline you've given achievable?0 -
If you keep your current home and buy a second home you pay stamp duty plus 3% OUCH0
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It's 4% where I am so I am more than aware. I will sell it before the 3yrs though and then claim it back. Just a short term annoyance.dimbo61 said:If you keep your current home and buy a second home you pay stamp duty plus 3% OUCH0 -
Don't you have 9 months though and then you can reclaim if you've sold the other property in this time?dimbo61 said:If you keep your current home and buy a second home you pay stamp duty plus 3% OUCH
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You can sell it within 3yrs and claim the additional stamp duty back providing it was your main residence.newsgroupmonkey_ said:
Don't you have 9 months though and then you can reclaim if you've sold the other property in this time?dimbo61 said:If you keep your current home and buy a second home you pay stamp duty plus 3% OUCH0
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