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Original poster

Santander can I sell it after 9 months

22 replies

purpleme12 · 29/03/2022 19:50

I bought my house 9 months ago
I want to sell it
I have a mortgage with Santander
I've seen people on here say you can't sell really soon after you've bought
Is this true? Is there a certain amount of time you can sell after?

OP posts:
user1477249785 · 29/03/2022 19:53

Depends on terms of your mortgage. Many often have a penalty for early repayment.

Original poster
purpleme12 · 29/03/2022 19:55

Oh shit I don't even know what these terms mean

OP posts:
Beees · 29/03/2022 19:57

You'd have or check your mortgage terms and see what it says.

Also it's worth considering the short time between purchase and resale will probably be a red flag for a lot of potential buyers. I'd be wary of why you were moving so very soon and thinking it would be because of something I couldn't change such as the neighbours being horrendous.

Starseeking · 29/03/2022 19:59

Only having held a property for 6 months is where (new) lenders have an issue. As you've passed that at 9 months, a buyer shouldn't have any issues in that regard.

If you have a mortgage with Santander, I presume you went for a fixed rate product. If so, they'll charge you around 3% of your outstanding mortgage as an early repayment cost. If you want to roll it into a new property, they may allow you to port it across with no charges. It really depends on what the terms of your mortgage are.

dontblamemee · 29/03/2022 20:00

Yopa says this: In the UK, no law stipulates a minimum period of home ownership before you can sell it. In principle, the owner of a residential property can sell it again as soon as he or she wants to. However, some banks, building societies and mortgage companies will not lend buyers money to finance their purchase if the current owner (and intending vendor) purchased within the last six months.

dontblamemee · 29/03/2022 20:01

I'm into the second year of a five year fixed and my fee is currently £3300 to get out of it.

Original poster
purpleme12 · 29/03/2022 20:02

@Beees

You'd have or check your mortgage terms and see what it says.

Also it's worth considering the short time between purchase and resale will probably be a red flag for a lot of potential buyers. I'd be wary of why you were moving so very soon and thinking it would be because of something I couldn't change such as the neighbours being horrendous.

Yes it is I can't cope anymore 😢
OP posts:
WhiteJellycat · 29/03/2022 20:08

Someone bought next door and sold it within two years and made 45k profit. Could you make it look like you did it up and are selling fast as a flip for profit?

But check your conditions. I fixed my mortgage for five years and the first years fee for early redemptions was 30k! But I'm not with with hight street provider.

Beees · 29/03/2022 20:13

Yes it is
I can't cope anymore 😢

I'm sorry to hear that. Has anything been formally documented because if so you will have to declare it when selling which would be the nail in the coffin for many buyers.

Definitely check your mortgage terms though as it's important you know what you've agreed to if you do decide to sell.

Aimee1987 · 29/03/2022 20:14

I'm with Santander on a 5 year fixed rate and we have been in our property 3 months.
Our mortgage is 275000 and to pay off our mortgage would incur fees of £13700. There is always the possibility of punting your mortgage across to a new property but you would need to talk to Santander or check your paperwork to seeing this is possible.

Original poster
purpleme12 · 29/03/2022 20:16

@Beees

Yes it is I can't cope anymore 😢

I'm sorry to hear that. Has anything been formally documented because if so you will have to declare it when selling which would be the nail in the coffin for many buyers.

Definitely check your mortgage terms though as it's important you know what you've agreed to if you do decide to sell.

Yes I had to tell the police because my child was scared in her own home And yes I know what people say on here about that I'm so stupid I thought they'd be able to help and it would all stop fairly quickly but it hasn't and I don't know why this is happening 😓😓😓
OP posts:
123walrus · 29/03/2022 20:17

Could you explain more about the situation and perhaps posters here could help you find a solution?

Original poster
purpleme12 · 29/03/2022 20:22

Ah there's no solution anymore
They have been and are still harassing us
Many different things to us and our property and lies to different authorities from 2 weeks after we moved in
They deny it all. Limited evidence. Not enough to follow on harassment
And now they're trying to say we're harassing them by slamming doors. I don't slam doors. If they hear it it's just cos they hear it i don't slam it
I can't cope with it anymore. I can't cope with being investigated because they've chosen the word harassment so we get investigated. I can't cope with their lies about us and lies about what they've done
It's too much for me

OP posts:
Turmerictolly · 29/03/2022 20:24

Sounds dreadful. It's not an easy option but could you afford to rent it out and then rent yourselves elsewhere and then sell a couple of years down the line?

FAQs · 29/03/2022 20:28

You can sell when you want but you’ll need to check for fees, I’m with Coventry on a five year fixed with no penalty. But I knew I wanted to sell so looked for one with no penalties. You’ll need to declare the neighbour issue though so that’s a tricky one, I presume the previous owner didn’t have issues/declare any.

You could rent it (with mortgage permission and it might require a equity/income review) but that’s a hassle and expensive, moving costs , deposits etc.

You have my sympathy I had nightmare neighbours once and it’s only when they moved I realised how bad and how tolerant had become, and how miserable I had been. 😟

Original poster
purpleme12 · 29/03/2022 20:31

No no issues declared
I even asked her she said they were lovely and helpful
But then another said she and the previous one had moved out because of them (but she didn't elaborate so I'm not sure if they did any of the same things to them or what) and she had the house for 4 years so a while.
I'm so angry she sold it to a single mum and a child

OP posts:
FAQs · 29/03/2022 20:33

Oh no it sounds as though she didn’t declare it. Do the neighbours own or rent their house?

tothemoonandbackbuses · 29/03/2022 20:42

I would try and tart the place up to look like you are flipping it or get a new job in a different area that requires a move.
You could get a male lodger. Bastard neighbours are much better if there’s a man around.

Original poster
purpleme12 · 29/03/2022 20:51

Thank you for your kind words

Where can I go to get support
Emotionally
I don't know what to do

OP posts:
Kyrae · 30/03/2022 10:31

That's an awful situation to be in, i'm so sorry :(
For emotional support you can contact your doctor, they can refer you to a local mental health support service, though the waiting lists in some areas are quite long at the moment. Mind are also very good, and you can ring them and they will let you know options available to you and give you support so you don't have to deal with this alone :( Big hugs!
www.mind.org.uk/need-urgent-help/using-this-tool

Original poster
purpleme12 · 30/03/2022 20:44

Thank you so much

OP posts:
Ealaigh · 31/03/2022 15:16

I sold just over a year after buying. This was due to a change in circumstances, not because of anything else. Nobody questioned it at all.

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