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When can you mortgage/remortgage your property?

Last post Mon, Jan 23 2012, 2:41 PM by digital-mate. 2 replies.
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  •  Mon, Jan 23 2012, 2:41 PM

    Re: When can you mortgage/remortgage your property?

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    Thank you very much Zeb. Now I understood why that happened.
    • Post Points: 5

  •  Sun, Jan 22 2012, 4:49 PM

    Re: When can you mortgage/remortgage your property?

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    What you have heard is true.

    A lender will not allow you to remortgage a property that you have come into posession of, whether through a mortgage or not, for at least 6 months.

    The main reason for this is to stop property companies that buy for below asking price properties immediately remortgaging for above the paid for price, this unsettles the housing market and so lenders will require that the new owner stay in full possession of the property for at least 6 months before they will consider a remortgage
    • Post Points: 20

  •  Sun, Jan 22 2012, 4:37 PM

    When can you mortgage/remortgage your property?

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    Hi,

    I have heard that when we buy a new property we cannot remortgage until six months later. I'm not sure if this is true or not.

    If it's true, the question is if we buy it with cash, can we mortgage it immediately? Or we have to wait for six months before we can mortgage it?

    Any lights on this, please.

    Many Thanks
    Digital-mate
    • Post Points: 20