I keep hearing about the 6-month rule – technically it’s not a rule as lenders view it very differently. Some enforce it almost to the minute whilst others are more comfortable.I keep hearing about the 6-month rule – technically it’s not a rule as lenders view it very differently. Some enforce it almost to the minute whilst others are more comfortable.
It’s not just your ownership but the sellers as well so always ask how long they have owned it.
There are several competitive BTL lenders who will accept an application within 6 months. Reasons to remortgage early include:
• Repay a more expensive short-term/bridging loan
• Release your cash earlier to buy your next property
• Improve your interest rate
• Obtain a mortgage on the increased value if you have refurbished it
Contact Searchlight now to see how we can help.