Switching mortgage

M

midland muck

Registered User
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38
Hi all,
I am looking into switching a mortgage on an investment property. Does anyone know of banks providing this option with free legal fees? Most switching options appear to be for principal private residence only. I thought Halifax had a switching product for investment proprerties but I checked their website today and they don't seem to have it anymore.
 
Hi NorfBank,
Thanks for the reply. Are there any institutions providing the switching product for investment mortgages with the customer paying the legal fees?
 
All of the lenders will look at your case and if it passes their criteria then there should not be an issue. Your loan to value would need to be quite low (around 60%) plus you would need to show you can afford the capital and interest repayments on a stressed interest rate of around 6.4%. The property will need to be in a location of high rental demand too. Stringent criteria but if you tick all the boxes then you can switch.
 
I was informed by Halifax last week that they no longer do buy to let mortgages - on an interest only basis
 
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