We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Can you rent a property out without a buy to let mortgage?
Comments
-
I wouldnt worry about taking a residential mortgage and getting consent to let loads of people do it who have only got one property and it seems quite the norm, i think it starts to go a bit wrong when you try and get two or three resdiential mortgages it becomes a bit on top.
Ive even people getting consent to let after a few weeks of getting a residential mortgage
As for the word fraud, i think you need to look up the term, its basically gaining money through lies which you have no intention of paying back, in your case they will be getting the money back.I am not a Mortgage AdviserYou should note that this site doesn't check my status as not being a Mortgage Adviser, so you need to take my word for it. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
confused31 wrote:As for the word fraud, i think you need to look up the term, its basically gaining money through lies which you have no intention of paying back, in your case they will be getting the money back.
While I agree witht the rest of your post, some clarification is needed on the above.
To obtain money by deception is fraud. So to get a mortgage by making out it is a residential mortgage, where you are going to live in the property, and letting it immediately would be fraud. To live in it for a short while and then move out and decide to let it would be a breach of your mortgage terms and conditions but not fraudulent as the money was obtained for the purpose for which it was used.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.4K Mortgages, Homes & Bills
- 178.6K Life & Family
- 262K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards