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Re: change morgate to BTL mortgate & buy another house

  •  Tue, Jan 06 2009, 10:48 PM

    Re: change morgate to BTL mortgate & buy another house

    Jessica

    I would suggest not swapping to Buy to let - just ask Abbey for permission to rent the house out.

    They should say yes if you explain the situation - no job, stay in house. New job, but have to move.

    That'll save you paying the redemption penalty with Abbey plus a BTL mortgage will probably be unavailbale at that loan to value anyway.

    I would recommend seeing a mortgage broker when the time comes to buy the new house - you will be after a mortgage that the broker will be able to source pretty quickly.

    Good luck

    Adrian

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