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  • FIRST POST
    • ritfor
    • By ritfor 17th Sep 19, 4:56 PM
    • 50Posts
    • 14Thanks
    ritfor
    Sub sale rules
    • #1
    • 17th Sep 19, 4:56 PM
    Sub sale rules 17th Sep 19 at 4:56 PM
    Evening chaps and chapesses,

    Regarding the 6 month ownership sub sale rule:

    Owner bought with cash, now selling to buyer with cash = fine.
    Owner bought with mortgage, now selling to buyer with mortgage = not fine.
    Owner bought with mortgage, now selling to buyer with cash = fine.
    Owner bought with cash, now selling to buyer with mortgage = ????

    By “not fine” I mean that the pool of lenders is reduced.

    Think I know the answer but can anyone please confirm what is correct here and correct anything I may have got wrong?

    Also, are there still plenty of lenders who don’t apply the rule?

    Thanks in advance.
Page 1
    • Slithery
    • By Slithery 17th Sep 19, 5:08 PM
    • 1,992 Posts
    • 3,319 Thanks
    Slithery
    • #2
    • 17th Sep 19, 5:08 PM
    • #2
    • 17th Sep 19, 5:08 PM
    How the current owner bought the property is irrelevant - the only issue is getting a mortgage on a property that's been owned less than 6 months.
    • eddddy
    • By eddddy 17th Sep 19, 6:50 PM
    • 8,565 Posts
    • 8,869 Thanks
    eddddy
    • #3
    • 17th Sep 19, 6:50 PM
    • #3
    • 17th Sep 19, 6:50 PM
    Here are comments by mortgage lenders relating to properties where sellers have owned them for less than 6 months:

    https://www.cml.org.uk/lenders-handbook/englandandwales/question-list/1813/


    (As Slithery says, whether the seller bought with/without a mortgage is not relevant.)
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