why should a mortgage company know how much

building

you are renting a property out for. mortgage express our mortgage company with whom we have a residential mortgage with want to know - if we decide to rent our property out - how much we will be renting our property out for . is this legal? i think they are real snoops. why shoudl they know. in addition we would not even make any money on the property. it is just at this moment in time we dont feel we have much time to look around for something else and we need to get another project off the ground and we need to save some money!

GameOver_2

Because there lending you many thousands of pounds?

EdInvestor

They will probably be wanting to get an idea if the rental income will cover your mortgage - in that if you are moving, you will probably be paying another mortgage - or rent - somewhere else.

Robert_Sterling_3

You are not compelled to tell them anything.
You are asking them to lend you money.
They are asking you about your current financial situation.
Why would you hesitate to tell them what they want to know.

payless

Robert_Sterling wrote:

You are not compelled to tell them anything.
You are asking them to lend you money.

ant of course they are not compelled to lend you anything