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Consent to let
Comments
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Hi WindsorCastle, good thread.
Good to see your situation reolved, but do you, or anyone else reading, know what the options are for someone who is in the exact same position as you, i.e. looking to let out property on a residential mortgage with Halifax, but with a mortgage which is over 75% of the LTV, quite near 95%, and on the Halifax SVR (Standard Variable Rate)?
Any comments from anyone who has any knowledge on this would be much appreciated.
Many thanks.0 -
Windsorcastle wrote: »I have recently let out my property and have informed my insurers so I do now have the correct insurance for a rented property. However, I have not told my mortgage company (Halifax) because it sounds as if they will force me to take out a new mortgage. Will my insurance be OK in this instance?
Anyone who likes taking massive risks like this, shouldn't bother to pay for insurance. You won't be covered when you want to claim, but the insurers will be happy to take your premium.0 -
simply_ali wrote: »Hi WindsorCastle, good thread.
Good to see your situation reolved, but do you, or anyone else reading, know what the options are for someone who is in the exact same position as you, i.e. looking to let out property on a residential mortgage with Halifax, but with a mortgage which is over 75% of the LTV, quite near 95%, and on the Halifax SVR (Standard Variable Rate)?
Any comments from anyone who has any knowledge on this would be much appreciated.
Many thanks.
We were 80% and I had to find the money to get the LTV under 75% - I borrowed from parents and used up the money I was going to use to 'do up' my new house. (before anyone says anything I do have some 'rainy day' savings for emergencies!!)
Otherwise they said I would not get CTL. Don't know if that was just a ploy to get more money as then I would have had to go onto a BTL product with all the associated fees - including the redemption fees on the the current product!!0 -
Windoscastle had you aleady rented out before you asked for the consent to let?0
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