BenandPam

I am looking to raise money to start a new company and am looking at remortgaging the rental property we have in the UK. Has anyone else been through the same process, if so who with and how painful did you find it ? The only proof of income is the rental, which is at least 3 times the current monthly mortgage payment. Any help with this one would be appreciated.

Alternatively, if you are into golf and are interested in investing in a new company, drop me a PM.

gingerlion

Have you tried phoning them and asking for it?

I Cant help but Im looking to renew my fixed rate which ends in september. yet i have no idea how to do this without going into a nationwide branch in the uk. Anyone done this before too?

Pomster

My husband did and it was quite painful- mainly because the mortgage co could not understand the concept of sending mail to our present address and instead randomly selected an address from the 'list of addresses you have lived at over the last 5 years"!

We used a financial advisor who was very helpful (and he got the commission from mortgage co, so it cost us nothing) and weeded out those who would allow a new mortgage to someone not earning pounds. They took rental income in UK into account.

Best mortgages do change from time to time, but if you would like IFA details, I can post them- he has been a great help to us.(although he may not like the thought of going through the same hassle a second time )

BenandPam

Any help would be greatly appreciated. If you could let me have the details of the IFA you used, that would be great. I am going to try and talk to the Woolwich tonight, so I will let you know how I get on.

Pomster

Good luck- it is a quagmire.


The IFA we used has always been really helpful- hopefully he might be as useful for you :

Graham Toogood, IFA
Sweeting Smedley Paulding & Co Ltd
Independent Financial Advisers
Tel: 01628 605134