|   FM Home  |   FM Forum  |   FM News  |   FM Blog  |  

Go Back   Finance & Money Forums > Finance > Mortgages



FAQ Members List Calendar Search Today's Posts Mark Forums Read

Mortgages Discussions about mortgages and mortgage lenders, and property as an investment.

Reply
 
Thread Tools
  #1 (permalink)  
Old 04-27-2010, 03:05 PM
Junior Member
 
Join Date: Apr 2010
Posts: 3
Default Mortgage Advice

Hi, I have recently moved in with a new partner and we have decided to buy a property together. I currently have 2 properties which are both rented out. One however is on a residential mortgage. How will the mortgage company react to this information and how will it affect us buying a property together? She is a first time buyer would I be considered the same if it is a joint purchase?
Reply With Quote
  #2 (permalink)  
Old 04-28-2010, 05:17 AM
Junior Member
 
Join Date: Apr 2010
Posts: 3
Default Re: Mortgage Advice

With the second property I am on a residential Morgtage however this property is being rented out. Can this be changed with the mortgage company? Will this cause any problems with my current deal?
Reply With Quote
  #3 (permalink)  
Old 04-28-2010, 06:11 AM
Junior Member
 
Join Date: Apr 2010
Posts: 3
Default Re: Mortgage Advice

Managed to find the following information if anyone else is interested: Some lenders are happy to allow you to let out your property while still on a residential mortgage whilst others do not allow this. It is necessary to contact your lender for confirmation. It may change the rate of interest payable and there is normally an administration fee. If the property is let it will affect your buildings and contents insurance and the insurer will need to be notified.
Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Advice on Life Insurance policy taken out on Mortgage I've now paid off. Big-toshie Insurance 1 02-02-2009 12:04 PM
Which? exposes incompetent mortgage advice Finance News Mortgages 2 07-27-2008 01:17 PM
High fees for mortgage debt advice Finance News Mortgages 0 09-18-2007 02:00 PM


All times are GMT +1. The time now is 03:44 PM.


Powered by vBulletin® Version 3.8.2
Copyright ©2000 - 2012, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.1.0

© 2005-2011 Finance Markets. All rights reserved  |  About  |  Disclaimer  |  Resources  |  XML Feed  |  Contact us