BTL remortgage without a job?

ecommica

Hello. 
I remortgage my BTL 5 years ago, when I was NOT a UK tax resident. Now this deal is coming to an end and I wonder if I have any options to remortgage it since the new rate is 9.09%. 

I recently returned to the UK and looking for work. My current rate is 3.75% which is £700, while the rent is £1300, as the deals ends next month my new rate will be 9.09% which is £1700. If I was to remortgage as a UK tax resident I should get a rate of around 6% which would be £1100 so would be covered by the rent.

Can I get a BTL remortgage while being unemployed (my last employment ended 3 years ago - I was employed for 16 years). I have had the same tenant for the last 6 years - could the rental income be considered for the new deal or do I have to wait till I get a job and then remortgage?

kingstreet

"I recently returned to the UK." When? Lenders often have a minimum UK residence period.

Does your existing lender offer any retention options?

housebuyer143

If your current lender offers product switch, you should really take them up on it.

ReadySteadyPop

Good advice.