OK, the basics first
1. Mortgage with NW (Just under 90K left of a 106K Mortgage)
2. Property valued at 115K
3. Currently on the BMR (2.7%) and not tied to a deal.
Heres the issue, just finishing a very amicable divorce and as a result the property is now in my sole name. I can afford the payments but fancied a new start elsewhere, so started looking into "Consent-to-let" so as to keep the property..
I was stunned at how high NW charges were (1.5% hike on the APR, costing about £90/mth!!!) compared to the other ones I investigated (First direct, free.... Santander - £200 one off).
I kinda now feel stuck - Selling up would leave me with almost nothing after costs, and trying to transfer mortgage would end up with a higher likely rate :( - Have I got any other option? :mad:
1. Mortgage with NW (Just under 90K left of a 106K Mortgage)
2. Property valued at 115K
3. Currently on the BMR (2.7%) and not tied to a deal.
Heres the issue, just finishing a very amicable divorce and as a result the property is now in my sole name. I can afford the payments but fancied a new start elsewhere, so started looking into "Consent-to-let" so as to keep the property..
I was stunned at how high NW charges were (1.5% hike on the APR, costing about £90/mth!!!) compared to the other ones I investigated (First direct, free.... Santander - £200 one off).
I kinda now feel stuck - Selling up would leave me with almost nothing after costs, and trying to transfer mortgage would end up with a higher likely rate :( - Have I got any other option? :mad: