To cover my costs I'm planning to take out 40-50K from my property equity and slap it on the mortgage possibly with a longer term to make sure I can balance.
Today I spoke to my mortgage adviser and thought I'd share some [probably obvious] advice he offered me. Basically he stated that when speaking to your/any mortgage vendor, do not mention tax payments as your reason for request, you will be immediately denied.
Much better to state you plan to purchase a buy-to-let, and that some banks (Santander apparently one of them) do not request any evidence nor checks of this, again, you "plan" to, not are doing so.
Probably noddy information for many, but I certainly wasn't aware and if it helps someone it was worth a post I guess.
On this subject, has anybody else remortgaged for this, or planning to do so?
Today I spoke to my mortgage adviser and thought I'd share some [probably obvious] advice he offered me. Basically he stated that when speaking to your/any mortgage vendor, do not mention tax payments as your reason for request, you will be immediately denied.
Much better to state you plan to purchase a buy-to-let, and that some banks (Santander apparently one of them) do not request any evidence nor checks of this, again, you "plan" to, not are doing so.
Probably noddy information for many, but I certainly wasn't aware and if it helps someone it was worth a post I guess.
On this subject, has anybody else remortgaged for this, or planning to do so?
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