Can you rent a property out without a buy to let mortgage?

garyd

LandyAndy wrote: »

If you don't know the basics or can't be bothered to find them out you shouldn't be a landlord.

See!:wall:

The point is the OP is asking for advice! Is that not trying to find out?
Surely the responses do not need to be aggressive and accusing, as is the case in some on this thread.
If a FA says you can do this or that do you then go to another FA and seek verification? No! So the OP relied on the information being given to them originally but now is questioning that original info.

LandyAndy wrote: »

The advice being given is know what you're doing before you go into something that is fraught with pitfalls for the unwary.

Would that all the responses were put like that.

payless

mortgage advison works for countrywide, working through barestowe eves

Hmmmmmmmmmmmmm

if concerned ( and I think you should be) call the lender direct ( before you exchange) and ensure they are aware it's to be rented out

jeec_2

Cheers for sticking up for me garyd, but after only using this site a few months, ive learnt to ignore all the bad attitudes, some people just cant be nice. However i am open to CONSTRUCTIVE criticism. So thanks for any decent advise I have received. The thing is everybody has to start somewhere, I didnt realise you had to be an expert already to use this site, after all it is a forum.

We bought the house, because it was extremely cheap, one option was to renovate and sell on for a profit, the other option was to possible let it out. We did research, but whenever you ask a question on here, you get slated.

jeec_2

payless wrote: »

Hmmmmmmmmmmmmm

elaborate?

silvercar

jeec wrote: »

elaborate?

They are all linked.

Mortgage advisor is on commission or at the very least has sales targets.

countrywide are linked to bairstow thieves or at least pay a commission for providing mortgage business.

B E get commission for selling houses.

So they all have a vested interest in you buying and them arranging the mortgage.

BitterAndTwisted

jeec wrote: »

I am open to CONSTRUCTIVE criticism. So thanks for any decent advise I have received. The thing is everybody has to start somewhere, I didn't realise you had to be an expert already to use this site, after all it is a forum.

I've re-read this thread twice now and cannot identify any unconstructive criticism at all, just dire warnings for the unwary. The problem is, to me you do sound like the unwary mainly because it sounds like you might have signed all this mortgage documentation without reading it very, very closely. When involving yourself in extremely serious financial and legal matters it makes sense to take absolutely nothing on trust, especially from sales people who are making commission off you.

Buy-to-let is a minefield for the inexperienced, Why do you think so many amateur buy-to-let landlords are up !!!!!! creek without a paddle now? Or hadn't you noticed?

lelole

RE: mortgage advisors in EAs - don't forget there may be a good chance that your actual borrowing capacity may be let slip "accidentally" and so the EA may have an unfair advantage in knowing what your financial position is when you nare making an offer.

EA work for themselves and their sellers, and there is no way I would trust them to advise me independantly!

:money: recommends London and Country (or did) , and I can vouch that they are really good and seem very ethical and well informed...

gone off topic now though!

Leah x

david29dpo

Nothing would surprise me with countrywide.

jeec_2

The only thing i have signed is mortgage application.

payless

which I guess would have asked question about occupancy ( in one way or another)