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Remortgage with house on the market
Lucia_W
Posts: 1 Newbie
Hi, I would like to ask, is it possible to remortgage while our house is on the market?
We have obviously not done our bit of research before listing our property. The truth is we put it on the market last year, then unfortunately our son was diagnosed with Hodgkin's Lymphoma, so of course house sale was completely out of question. Son is thankfully in full remission and we simply wanted to get on with our life as - or almost as- before.
I reached out to a broker, and this was basically the first piece of advise given to me.
I was under the impression that this was possible if we were staying with the same lender - so at the time when our deal comes to an end ( which is soon!) we will do a product swap .
Could someone please enlighten me?
Many thanks
Lucia
We have obviously not done our bit of research before listing our property. The truth is we put it on the market last year, then unfortunately our son was diagnosed with Hodgkin's Lymphoma, so of course house sale was completely out of question. Son is thankfully in full remission and we simply wanted to get on with our life as - or almost as- before.
I reached out to a broker, and this was basically the first piece of advise given to me.
I was under the impression that this was possible if we were staying with the same lender - so at the time when our deal comes to an end ( which is soon!) we will do a product swap .
Could someone please enlighten me?
Many thanks
Lucia
0
Comments
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A product switch is fine. A remortgage probably isn't although if an automated valuation was done it may well not be picked up.I am a mortgage broker. 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.1
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Go for a product switch and port thats what we are doingDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.1
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Make sure you check what/if there are any early repayment charges on a new product, also check lender policy on porting and whether you can port your product when you do move as not all are eligible.0
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