Mortgage needed for my house with an offer

angers

Hi. I am looking for a mortgage for my current property that is up for sale and has an offer on. My buyers have been waiting since Oct, but I haven't found anywhere to go to. I am now in the standard variable rate with my mortgage company and they won't let me remortgage and secure a lower rate interest rate due to the house being under offer.

Does anyone know of a mortgage lender who will let you remortgage and and portable mortgage ability.

This isn't a move choice, it's due to ill health of family.
Many thanks in advance

K_S

@angers Are you saying the lender isn't allowing a PT (product-switch/product-transfer/rate-switch)? It could be because they suspect that you want to use them as a short-term lending facility which isn't something they like.

Based on the limited info in your post, if you are intending to port, then it may be possible to remortgage to another lender and then port it if/when you find a house to move to. I would recommend getting in touch with a mortgage broker who can both speak to your current lender and see if a PT is possible, see if another lender can be found for a remortgage or suggest a way out of SVR.

The MSE guide here can help you find one 
https://www.moneysavingexpert.com/mortgages/best-mortgages-cashback/#step3

angers

K_S said:

@angers Are you saying the lender isn't allowing a PT (product-switch/product-transfer/rate-switch)? It could be because they suspect that you want to use them as a short-term lending facility which isn't something they like.

Based on the limited info in your post, if you are intending to port, then it may be possible to remortgage to another lender and then port it if/when you find a house to move to. I would recommend getting in touch with a mortgage broker who can both speak to your current lender and see if a PT is possible, see if another lender can be found for a remortgage or suggest a way out of SVR.

The MSE guide here can help you find one 
https://www.moneysavingexpert.com/mortgages/best-mortgages-cashback/#step3

I have been honest and told them of my intentions of the maximum I'm intending to spend on a property, so the remaining of what I owe them plus the difference to purchase. This is well under half of what I can borrow from them. I've also informed them of how I would pay back anything I don't need which would be through over payment ability. I'm also happy to stay with them as a lender, the Early repayment rate is enough to keep me on board with them.

I spoke to a broker who I have used for many years ,last month,but it wasn't helpful and despite putting multiple requests in for a call with him in the last 10 days or some reason he's not responding to me ( he is in work).

I feel a bit stuck to be honest.

canaldumidi

angers said:

K_S said:

@angers Are you saying the lender isn't allowing a PT (product-switch/product-transfer/rate-switch)? It could be because they suspect that you want to use them as a short-term lending facility which isn't something they like.

Based on the limited info in your post, if you are intending to port, then it may be possible to remortgage to another lender and then port it if/when you find a house to move to. I would recommend getting in touch with a mortgage broker who can both speak to your current lender and see if a PT is possible, see if another lender can be found for a remortgage or suggest a way out of SVR.

The MSE guide here can help you find one 
https://www.moneysavingexpert.com/mortgages/best-mortgages-cashback/#step3

.....

I spoke to a broker who I have used for many years ,last month,but it wasn't helpful and despite putting multiple requests in for a call with him in the last 10 days or some reason he's not responding to me ( he is in work).

Clearly it's time to find a different broker then....

GDB2222

There’s a recent thread about someone unable to complete their sale because they decided to remortgage whilst under offer. Due to delay at the LR. 

You would be better off staying with the same lender, so the existing charge on theLR can remain.

housebuyer143

GDB2222 said:

There’s a recent thread about someone unable to complete their sale because they decided to remortgage whilst under offer. Due to delay at the LR. 

You would be better off staying with the same lender, so the existing charge on theLR can remain.

Yes, people forget this. My mate updated her title after buying a parking space... Shortly after tried to remortgage and they won't do it because the title is incorrect...

simon_or

Find a good broker (not the conveyor belt types), they'll help you find a solution.

I was in a similar situation a few years ago and remortgaged to a Nationwide tracker which I then fixed and ported. They even allowed me to port without a full income assessment as I was not borrowing extra.

angers

simon_or said:

Find a good broker (not the conveyor belt types), they'll help you find a solution.

I was in a similar situation a few years ago and remortgaged to a Nationwide tracker which I then fixed and ported. They even allowed me to port without a full income assessment as I was not borrowing extra.

Thanks for the information. Who  would you recommend I avoid to find a good broker?

angers

GDB2222 said:

There’s a recent thread about someone unable to complete their sale because they decided to remortgage whilst under offer. Due to delay at the LR. 

You would be better off staying with the same lender, so the existing charge on theLR can remain.

I don't suppose you know any details of the thread for a search I can do? Cheers