Temporary switch from capital repayment to interest only (selling house and relocate abroad)

chsiao1118

Hi everyone, 

I hope if anyone can help me or provide some insights/advice?

I have received an offer from my old boss and I'm moving to Dubai for work. Hence i'm selling my house in London.

The house selling process is not really great at the moment. Lack of viewing and no one put an offer yet so I'm starting to get a little nervous.

When I move to Dubai next 2 to 3 months, I would need to essentially paying for 2 rents (one in Dubai and one in London). In addition, in Dubai majority of landlord wants the rental payment in lump sum. So clearly it will create pressure.

While I'm still confident my house will get sold in the next 6 to 12 months but I want to actively manage my finance and don't put myself into corner, So my question is - based on circumstance, Can i use "Mortgage Charter" to ask Metro bank (my mortgage provider) to temporary switch from capital repayment to interest only? 

If anyone have similar situation, I would appreciate if you can share some insight or your story so I can have an idea before I speak to Metro Bank.

Thank you!

Hoenir

Temporary is normally regarded as 6 months maximum. Have you considered asking your new boss towards the cost of relocating or a short term bridging loan. Until the London property is sold. 

chsiao1118

Thank you Hoenir, I am awaiting the onboarding team to tell me what is the relocating package and at the meantime I want to explore what i personally can do. I think 6 months is enough for the house selling to complete but I just don't know if Metro Bank will just grant my request or they will make it very difficult. Thank you!