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is it possible to rent out your property without declaring it to the morgage company? 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
By sleepfreak Posted on 06/21/08 Total Answers 5
Answers-
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.
Answer by : borolass On Date 2008-06-21 11:33:51

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.
Answer by : Mustafa Leek On Date 2008-06-21 11:34:48

Yes, the mortgage company doesn't how you make the payment. Make sure you have the correct insurance!
Answer by : Wheels On Date 2008-06-21 11:37:06

Mortgage company doesn't care who lives there, as long as the payments are made on time.
Answer by : alterfemego On Date 2008-06-21 11:38:23

you should inform them. You will also fined your insurance may be invalid.
Answer by : alta On Date 2008-06-22 13:50:54

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