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Temporary Rental Permission from Lender?
MajorTom_2
Posts: 77 Forumite
Hi All,
I'm very close to exchanging and completing on a house, the vendor is buying a new build which is not due for completion for around 3 months.
I am concerned with things being strung out until then and I would like to exchange and complete on the same day ASAP.
I am in the position to stay with friends for as long as I need to but it looks like the vendor dosen't want to move somewhere temporary while their new build is completed.
I just want to get everything sown up (don't want to lose the house either) so I would be willing to have a short term lease with the vendor to allow them to stay there at a very low rent until they can move.
The mortgage I am getting is a non buy to let so I know I need permission to let the property out officially from my lender.
Has anyone else ever been able to get a short term letting permission before? (3-4 months max) my mortgage is with Nat West.
I don't want to ask them directly just yet incase they say no and then decide to pull the mortgage offer all together just to be safe.
Many thanks,
MT
I'm very close to exchanging and completing on a house, the vendor is buying a new build which is not due for completion for around 3 months.
I am concerned with things being strung out until then and I would like to exchange and complete on the same day ASAP.
I am in the position to stay with friends for as long as I need to but it looks like the vendor dosen't want to move somewhere temporary while their new build is completed.
I just want to get everything sown up (don't want to lose the house either) so I would be willing to have a short term lease with the vendor to allow them to stay there at a very low rent until they can move.
The mortgage I am getting is a non buy to let so I know I need permission to let the property out officially from my lender.
Has anyone else ever been able to get a short term letting permission before? (3-4 months max) my mortgage is with Nat West.
I don't want to ask them directly just yet incase they say no and then decide to pull the mortgage offer all together just to be safe.
Many thanks,
MT
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