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  • FIRST POST
    • Thbm
    • By Thbm 19th May 17, 8:13 AM
    • 6Posts
    • 1Thanks
    Thbm
    Need help with BTL mortgage
    • #1
    • 19th May 17, 8:13 AM
    Need help with BTL mortgage 19th May 17 at 8:13 AM
    Currently in the process of switching my mortgage to a BTL however I have a tenant in place. Have not informed lender as would be classed as unauthorised letting? Or would it? They now want to see my bank statement which shows my rent going in.
    Want to be right by everyone but always a stumble. Also in process of purchasing 2nd house to live in. Didn't tell them 🙈 they also said under there terms the tenant must be working. She's not! And I cannot kick her out. She's a carer for her son.
    Any advice please. New to this.thanks
Page 1
    • AnotherJoe
    • By AnotherJoe 19th May 17, 8:20 AM
    • 6,295 Posts
    • 6,666 Thanks
    AnotherJoe
    • #2
    • 19th May 17, 8:20 AM
    • #2
    • 19th May 17, 8:20 AM
    Find a new lender perhaps via a broker
    • Thbm
    • By Thbm 19th May 17, 9:38 AM
    • 6 Posts
    • 1 Thanks
    Thbm
    • #3
    • 19th May 17, 9:38 AM
    • #3
    • 19th May 17, 9:38 AM
    What will skipton do if I tell them I've been renting.? Also will they check the status of the tenant?
    • Pixie5740
    • By Pixie5740 19th May 17, 10:07 AM
    • 10,095 Posts
    • 13,873 Thanks
    Pixie5740
    • #4
    • 19th May 17, 10:07 AM
    • #4
    • 19th May 17, 10:07 AM
    Skipton could call in the whole mortgage. A more likely scenario is that they will increase your interest rate and back date it.

    Given that you didn't bother requesting consent to let from Skipton when you started letting the property is there anything else you failed to do as a landlord? Right to rent checks? Gas safety certificate? Deposit protection? Landlord insurance?

    See G_M's Guide to Tenancies in England & Wales for information.
    Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery.
    • silvercar
    • By silvercar 19th May 17, 10:24 AM
    • 35,128 Posts
    • 148,254 Thanks
    silvercar
    • #5
    • 19th May 17, 10:24 AM
    • #5
    • 19th May 17, 10:24 AM
    Another option may be to find a BTL mortgage from a different lender.

    Then transfer (port) your existing mortgage to your new residential home, if you have some reason to stay with Skipton. That would avoid any awkward questions.
    • Thbm
    • By Thbm 19th May 17, 10:28 AM
    • 6 Posts
    • 1 Thanks
    Thbm
    • #6
    • 19th May 17, 10:28 AM
    • #6
    • 19th May 17, 10:28 AM
    Nope everything else is in place.
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