Can I change mortgage lender in the 1st 3 years if bought from local council?

Jan

Can I change mortgage lender in the 1st 3 years if bought from local council?

Archived in the category: 1st mortgages

I am trying to change my mortgage from my 1st lender but there seems to be a query on how long I have my 1st mortgage because I bought from the council. I am not trying to sell judt move to a better lender

Sure! We moved to Geico, owned and run by General Motors Corp.
Quick easy and saved a bunch of interest.

Posted by: admin - 3 Comments

3 comments for “Can I change mortgage lender in the 1st 3 years if bought from local council?”

Alison R

Don’t see any real reason why you couldn’t re-mortgage – unless you are taking a lot of extra money. The Council would have to be informed as they actually have a Charge over the property for the first three years. They might want to know why you are re-mortgaging and what you are going to do with any extra money – see a solicitor for advice.
References :

January 13th, 2010 at 6:15 am

sunpekes

Sure! We moved to Geico, owned and run by General Motors Corp.
Quick easy and saved a bunch of interest.
References :

January 13th, 2010 at 7:05 am

fargo

As long as you are not selling – like you said. There is no reason not to remortgage during the dicount period. Make sure that you can change mortgages i.e. make sure your current lender does not have high redemption fees. Have you asked your current lender for a different rate/more funds. Some times it is more cost effective to stay with present lender. You need independent Financial Advice http://www.thepremiergroup.co.uk
References :

January 13th, 2010 at 7:31 am

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