Emigrating, Remortgaging and Consent to LetMake Text Bigger
I am currently in the process of emigrating to Australia (2-3 months until D-day). Rather than sell up, I would like to rent my current property out, just in case things don’t work out and I decide to come back in a couple of years.
I have approximately 80% LTV and am currently paying the Mortgage Variable Rate (Residential) of my current mortgage provider of 5.49% and would like to reduce this as much as possible. I understand that I may apply for a Consent to Let which will increase the rate to 5.69%.
My questions are:
Would I be able to remortgage with another mortgage provider on a much lower interest rate then apply for Consent to Let once the remortgage is in place (i.e within a week or so)?
Would the new provider see this as me trying to dodge a Buy To Let mortgage, of which there is very little availability (and not very good rates) for 80% LTV, and hence refuse my application for Consent to Let?
Many Thanks in Advance,
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