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Travelling and want to Let my property???
genbabe55
Posts: 2 Newbie
I want to go travelling this year and have applied to my mortgage company to allow me to let my property..... However, they have turned me down as I am not in the Armed Forces or relocating abroad because of my job.
Any advice please??? I really had my heart set on travelling and feel this is so unfair!
Genbabe55
Any advice please??? I really had my heart set on travelling and feel this is so unfair!
Genbabe55
0
Comments
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Join the armed forces, get a job abroad or change your mortgage provider?0
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Thanks! But its not that straightforward.... Bought the house with my ex, he signed it over to me, but cannot afford to remortgage on my wage alone.....0
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That's what they're worried about: you don't have enough money to remortgage, it was bought with your ex, you're about to go travelling abroad (no job), so are hoping to be able to let it out while you're away ..... huge huge huge huge risks there to the lender.
Many "what if" scenarios come to mind...... including, but not limited to:
- what if you can't rent it out
- what if the tenant stops paying
- what if the tenant does a bunk/trashes it
- what if you can't get a job when you come back
- what if ........0 -
Should have signed it over to him, gone travelling, then started again when (if) you returned...0
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Sell it and go travelling worry free.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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Sell it, buy something smaller, let that and go travel.0
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