So far talking to different mortgage lenders I learned about the following disadvantages:
1. Some will not allow to have a loan secured against the property from lender other than them. So they become a lending monopoly or I have to leave them which will cost a lot.
2. Many lenders will not let me to rent the property out if I will ever relocate for a better job. (by the way, what enforcement do they have to prevent renting the property out provided I keep up with all mortgage repayments?)
3. Some want me to have my current account with direct debits with them. I do not mind as long as their customer service is OK.
Are there any other questions to ask a mortgage lender upfront when I am shopping for a new one?
1. Some will not allow to have a loan secured against the property from lender other than them. So they become a lending monopoly or I have to leave them which will cost a lot.
2. Many lenders will not let me to rent the property out if I will ever relocate for a better job. (by the way, what enforcement do they have to prevent renting the property out provided I keep up with all mortgage repayments?)
3. Some want me to have my current account with direct debits with them. I do not mind as long as their customer service is OK.
Are there any other questions to ask a mortgage lender upfront when I am shopping for a new one?
