Evening everyone. I'm new here and to using forums.
I just want to ask questions regarding my mortgage, I have a residential mortgage with santander which I've had a few years now and I'm not locked in to any product, my question is how do I go about switching it to a buy to let mortgage as I do not want to live there anymore, will santander make me remortgage or do they just change it to a buy to let for a one off fee and change the rate? Does there have to be a certain amounts of equity in the property or do I only have to worry about that if I have to remortgage to get a buy to let product? Mortgage is 131000 and rental is 775 to 800pcm.
Any help is much appreciated, thanks
I just want to ask questions regarding my mortgage, I have a residential mortgage with santander which I've had a few years now and I'm not locked in to any product, my question is how do I go about switching it to a buy to let mortgage as I do not want to live there anymore, will santander make me remortgage or do they just change it to a buy to let for a one off fee and change the rate? Does there have to be a certain amounts of equity in the property or do I only have to worry about that if I have to remortgage to get a buy to let product? Mortgage is 131000 and rental is 775 to 800pcm.
Any help is much appreciated, thanks