Implications for UK BTL mortgage holders of moving abroadMake Text Bigger
Now here’s an interesting question, which I can’t find any threads on the site search for. So, I have 15-20 UK BTL mortgages and have followed Mark’s lead and left the UK for sunshine, sea and the ex-pat lifestyle. But, what is the effect of my move on my mainstream UK BTL mortgages which I already have?
Am I in breach of lending terms?
Should I declare the move to lenders?
Will this cause a recall of loans or increased rates?
Can I do product transfers within at the end of fixed rates?
Can I take out a new BTL mortgage in place of my residential mortgage on my old home?
Should I be wiping a furrowed and fearful brow, or putting on my straw Panama and heading off for a sundowner with pals at the Royal British Club?
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