samtheman Posted October 25, 2014 Share Posted October 25, 2014 Hi, I've recently exchanged contracts on a property. The property is on a BTL basis and I may need to extend the offer by a few weeks as the completion date has been set to just over 2 months time. I've recently been made an offer for a job that I am considering but am particularly scared as I know that any change of circumstances needs to be communicated to the lender. Do BTL lenders care about whether I change job. I understand that for a residential mortgage this would probably be a huge deal but is that the same for a BTL mortgage? Is the fact that I am asking to extend the offer going to result in additional background checks? By the way, I am not a BTL investor. This is my first property but as I need to work abroad for a couple of years and the property was tenanted, I accepted on this basis for the time being. Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted October 25, 2014 Share Posted October 25, 2014 ... and the property was tenanted... So the property is now empty and you plan on living in it? Quote Link to comment Share on other sites More sharing options...
Lifes a game Posted October 25, 2014 Share Posted October 25, 2014 By the way, I am not a BTL investor. This is my first property but as I need to work abroad for a couple of years and the property was tenanted, I accepted on this basis for the time being. I don't know how BTL mortgage works, if you're planning to move in for a short period before living abroad.... What has the lender said about that? Quote Link to comment Share on other sites More sharing options...
samtheman Posted October 25, 2014 Author Share Posted October 25, 2014 I don't know how BTL mortgage works, if you're plannin to move in for a short period before living abroad.... What has the lender said about that? To be specific, it is tenanted but the seller has just served notice. I can't keep the current tenants. I won't live there any time soon as my job is currently abroad and this job offer is nowhere near this flat. No plans to live there for a number of years. My only question is simply how the lender will view the change of job. As I've exchanged, I have no desire to put the mortgage offer at risk. As the main criterion for BTL mortgages is the rental income, would they even care? Quote Link to comment Share on other sites More sharing options...
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