Switch mortgage with a qualification on title

H

hawkeye01

Registered User
Messages
2
Hi all - has anyone experience of switching mortgage providers while there is a qualification on the title of existing loan?

We are in home one year and looking to remortgage to fund renovations; we had some queries with solicitor and KBC during initial purchase, is same rigour likely to be applied (by the banks specifically) when looking for a new mortgage?

Thanks
 
Yes the same rigour will be applied. Switching mortgage involves a new lender giving you a loan so they will want just as much legal comfort as the incumbent.

That said, if you already got the loan, then it would seem that the qualification on title isn't fatal. Your current lender accepted it. So the proposed replacement lender may also accept it, all things being equal. I would suggest that your solicitor writes to the legal department of the new lender at an early stage with full details.

Alternatively you could look at getting a top-up with KBC, who have already accepted the qualification.
 
 
You must log in or register to reply here.
Menu
Log in
Register