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buy to let mortgage
dylan123
Posts: 8 Forumite
hi can anyone tell me!!! i have a buy to let mortgage with ( ucb home loans) on a flat which i was letting. i have moved in (nov2009) to sell property which is currently under offer. Will my mortgage provider be ok with me living at the property??
many thanks dylan
many thanks dylan
0
Comments
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Almost certainly not a problem. If your sale is close to Exchange/Completion I should just wait and redeem the mortgage. If it's going to take some time, let them know.0
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Sigh!. Will my mortgage provider be ok with me living at the property??
What does it say in the paperwork you read/signed - when you took the loan out - about your living there...????
Strangely, I can't read your paperwork from where I'm sitting.. Different lenders have different conditions: From memory one of my B2L deals is OK with me living there, another ain't (ditto relatives being tenants..)
Cheers!
Lodger0 -
So long as you're paying the mortgage in full and on time they won't mind. Your agreement with them probably states that you can't live there, but as your intention is not to defraud or mislead them but is a temporary state of events as you're in the throes of selling it then there's no harm done. I wouldn't mention it to them though, so long as the mortgage payments were being met in full and on time.0
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thanks was not sure if i should tell them as my fixed rate 5.69 came to an end in march2009 and i have ticked on to the lower variable rate 4.99. all payments being made on time . could not find any info about it on paper work. hopefully sale will be 2/3 months buyers in no chain 2nd home nice....0
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