Consent to Rent on a Residential Mortgage?

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...

Replies

  • rl290rl290 Forumite
    314 Posts
    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!
  • MithosMithos Forumite
    137 Posts
    Part of the Furniture 100 Posts Combo Breaker
    Forumite
    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. :p. Depends what HSBC are like!
  • FloxxieFloxxie Forumite
    2.9K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    Forumite
    If you repost this on the mortgage board, you may get a better response.
    Mortgage start September 2015 £90000 MFiT #06
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