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Mortgage needed for my house with an offer
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angers
Posts: 34 Forumite

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
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
0
Comments
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@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/#step3I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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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).
I feel a bit stuck to be honest.0 -
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).
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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.No reliance should be placed on the above! Absolutely none, do you hear?5
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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.
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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.2
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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.0
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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.0
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