we dont have a buy to let morgage but need to live elsewhere due to family commitments and cant afford to sell at the moment
yes it is possible, but if you get caught you’ll probably get a hike in interest rates or have to pay a lump sum to them. also remember that if you let your property out without permission it invalidates your insurance. Many of our customers are caught by the tenants returning unopened mail marked ‘gone away’. Be very careful.
is it possible to rent out your property without declaring it to the morgage company?
Leave a comment
yes it is possible, but if you get caught you’ll probably get a hike in interest rates or have to pay a lump sum to them. also remember that if you let your property out without permission it invalidates your insurance. Many of our customers are caught by the tenants returning unopened mail marked ‘gone away’. Be very careful.
References :
Employee of Uk mortgage company for 10 years
As and when they find out, they’ll make you pay arrears on a buy to let, and probably charge you to change your mortgage.
It’s going to be risky.
References :
A friend got caught out.
Yes, the mortgage company doesn’t how you make the payment. Make sure you have the correct insurance!
References :
Mortgage company doesn’t care who lives there, as long as the payments are made on time.
References :
you should inform them. You will also fined your insurance may be invalid.
References :