Mortgage - No fixed abode

FocusHappy

We recently turned our own home into a holiday let, and got approval from our mortgage company to do so (Nationwide - personal repayment mortgage). The problem is now we are coming up to the end of our '5 yr deal'. We thought they would allow us to swap deals (as I know others that have turned their own homes into rentals with other lenders and they have been able to), but no, Nationwide have just sent a letter saying that we will be converted to their Standard Mortgage Rate, plus 0.5%, making it 8.49% on the date of their letter, saying that we don't qualify to switch.

We transferred our post to my partner's mother' address. We both have passive incomes, but we are travelling around the UK, so have no fixed abode. We have had a healthy occupancy rate/income as a holiday let, and we always pay our mortgage on time.

What are our options? Can we get a mortgage with having no fixed abode? Any help would be great.

silvercar

Could you use your partner’s mother’s address as your address? 

DE_612183

silvercar said:

Could you use your partner’s mother’s address as your address? 

They would need to be on the electoral roll there...

MWT

Time to talk to a broker who can help you with a suitable mortgage for your business, rather than trying to bend a residential mortgage to fit...

I'd have thought they are not going to be keen on the lack of your own residential property though...