Current mortgage - letting

pldd4

Hi,

I have a current mortgage with Northern Rock that i'm tied into for another year. Aug 2007. I'm going to let the house out for a couple of year probably.

I've read my mortgage fees and it says the fee for changing my mortgage ( Letting Fee Annual ) is £100.

Is that all i have to pay? Apart from changing my insurance etc as well?

Many thanks.

MortgageMamma

You havr to check with NR and get written permission for the temporary let. As well as this you need to let your insurer know (B & C) as some will not insure for lets. There are special landlord building policies you can take, home emergency cover (deals with stuff like gas breakdowns and lost keys) and rent and legal insurance (pays your legal fee#s if you need to evict tenant, pays rent in meantime if tenant defaults) All of these are fairly specialist areas, so please do take advice.

MM