Moving abroad - want to let my property

NewYorker2010

Hello all,

We finished a protracted house purchase in January and have a fixed mortgage with ING Direct.

However, I've been offered a job overseas and would love to go, but am worried about ING Direct not allowing me to let my flat.

In their T&Cs they say they'll add an extra 2% to the mortgage repayments for unauthorised lettings which would cost me more than I'd get in rent (after estate agent fees etc).

Has anyone else been in a similar situation with ING?

Thanks.

VIGILANT22

you're in breach of your mortgage agreement not to inform them.....

NewYorker2010

VIGILANT22 wrote: »

you're in breach of your mortgage agreement not to inform them.....

I want to inform them, I just want to have an idea of what they'll say and what options I have if they say no.

Oldernotwiser

You could ring up and ask the question hypothetically, without giving your name.

NewYorker2010

Thanks - they say that sometimes they'll allow people 24 months consent to let with 'work relocation'. however, they can't define what 'work relocation' means (does it only cover me if my current employers move me?).

Dave101t

ask them to add this to your agreement.

NewYorker2010

thanks.
Sorry for being slow but what do you mean by "add this to your agreement"?

NewYorker2010

In case anyone else has this problem here is a quick summary of my experience:

I called ING Direct anonymously to see what they would do if I hypothetically moved. They said that sometimes they'll allow people 24 months consent to let with 'work relocation'. They couldn't explain it anymore.

However, when I called them again to find out more, they told me that actually 'work relocation' is for people whose circumstances are beyond their control. For example, if you are in the military and posted to Germany, or if your company moves you to a location that you can't reasonably commute to and from.

northerner999

I am with Halifax and they pretty instantly agreed to give me a three-year consent to let, even though I was moving abroad to join a different company (and a risky start-up project).

I would like to think they would extend my consent to let time if I asked, but I'm about to move back with six months to go so won't find out.

Pring

northerner999 wrote: »

I would like to think they would extend my consent to let time if I asked, but I'm about to move back with six months to go so won't find out.

After three years they'll ask people to go onto a Buy To Let mortgage.