Consent to Rent on a Residential Mortgage? 28 January 2009 at 5:24PM in Mortgage-free wannabe 3 replies 1.8K views

rboltonuk

I bought a flat recently and am now considering not moving in to it as they have started laying people off where I work. My mortgage is with HSBC on a tracker and the rate is quite low for the present. Im half anticpating that they might invoke some rule or say that it cannot be done without being stung for a hefty re-arrnagment fee or increase in rates.

Any suggestions greatly welcomed...

rl290

Depends on the lender. I am with A&L and they had no problem giving me permission to let (there was just a £90 admin fee). If you don't ask, you don't get!

Mithos

rboltonuk wrote: »

I bought a flat recently and am now considering not moving in to it as they have started laying people off where I work. My mortgage is with HSBC on a tracker and the rate is quite low for the present. Im half anticpating that they might invoke some rule or say that it cannot be done without being stung for a hefty re-arrnagment fee or increase in rates.

Any suggestions greatly welcomed...

Check your paperwork. Somewhere there should be a list of their fees.

Some providers also wack on a loading of some sort onto the rate as its a" residential letting", they get a bit funny about you making a potential profit from them lending you money for a property you intended to live in. . Depends what HSBC are like!

Floxxie

If you repost this on the mortgage board, you may get a better response.