remortgage from BTL to RESIDENTIAL

Do i have to provide proof of income achieved on my BTL to change to residential or do they not ask such things ?(other than salary) I have 208k outstanding on this property and it is worth 340k

Comments

  • Hoenir
    Hoenir Posts: 6,878 Forumite
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    You'll go through the standard mortgage application process to ensure you meet with the set criteria. 
  • housebuyer143
    housebuyer143 Posts: 4,202 Forumite
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    keith69 said:
    Do i have to provide proof of income achieved on my BTL to change to residential or do they not ask such things ?(other than salary) I have 208k outstanding on this property and it is worth 340k
    If you are converting it to a residential I don't think they will ask you about the BTL income because you won't be recieving it any longer once you move into the property.
  • amnblog
    amnblog Posts: 12,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    The Lender's main concern here will be are you actually moving in, or are you just trying to get a residential rate to save interest and continue to let.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
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