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Transferring mortgage to different property
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 0 Newbie
So my vendors are moving in to a new build and we were told that we would be completed by a date in January which has already passed.
They now can't give us a time frame. Due to our circumstances, we need to move ASAP.
Would we be able to transfer our mortgage to a different property?
Would we have to go through the same checks with payslips, credit checks etc if it was for the same price?
We've not exchanged contracts as of yet and it also doesnt even look like a valuation has been done on the property.
Our mortgage is with barclays.
They now can't give us a time frame. Due to our circumstances, we need to move ASAP.
Would we be able to transfer our mortgage to a different property?
Would we have to go through the same checks with payslips, credit checks etc if it was for the same price?
We've not exchanged contracts as of yet and it also doesnt even look like a valuation has been done on the property.
Our mortgage is with barclays.
0
Comments
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That's upto your mortgage provider. Unlikely though, you'd probably need to restart the whole mortgage application.
It will take about 3 months to complete a house purchase. Do you want to start the clock again?0 -
A mortgage with a new property means proving income, credit searches, and valuation.
Barclays give you the option to port the rate, not the lending.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.0
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