HI. We have a buy to let mortgage with Santander for 131k, no problems 125% cover rent & no payment problems for the 8 years we have had the property. We have £10k in there & would like to purchase the house we rent at the moment. We have a late payment marker & 2 defaults between us, everything else satisfied.
My question is if we are better off approaching our current provider, santander, for a mortgage.We need 180k & could get 210k according to their affordability calculator. I dont want to go through the application with santander only to get rejected. Would other lenders lend to us & would they take into account the 10k capital on our btl?
We can raise a 10% deposit.
Thankyou:)
My question is if we are better off approaching our current provider, santander, for a mortgage.We need 180k & could get 210k according to their affordability calculator. I dont want to go through the application with santander only to get rejected. Would other lenders lend to us & would they take into account the 10k capital on our btl?
We can raise a 10% deposit.
Thankyou:)