Remortgage Advice Needed

Landlord Discussion
1

So I have some complications, my current mortgage provider has grated me consent to let up until the end of my current fixed rate mortgage which runs out end of June this year.

At which point they told me I need to switch providers as they don’t offer buy to let mortgages.
From my research some providers like NatWest are more open to granting consent to let for the life time of the residential mortgage.

I really haven’t thought this thru very well. I recently agreed to let my current Tennant stay for another 6 months from 12 April.

In reflection I should of moved back into the house and applied for a residential mortgage (example with NatWest).

I am not about to cancel my AST as we have all already singed the document.
I am thinking the best thing to do is to phone my current mortgage provider and ask if they will extend my consent to let until October 2022 when the AST runs out.

I guess I am very worried that interest rates will keep going up and by then I will be on a very poor mortgage deal.

If I was to apply for a residential mortgage now and get to the point of it being offered I have read I could park it for 6 months then take it out when the AST ends?

2

I would recommend you use a broker. They are familiar with a much wider range of btl products and have an understanding of the requirements of each and how they match your needs. Doing this has saved me a lot of time and money over the years. For the most part they get their fees from the lender not you. There are lots of good brokers around. Some may advertise with the landlord websites such as NRLA and Landlordzone.

3

Phone London and country they have been fabulous brokers for us and have dealt with all our BTL mortgages