We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Shared Equity Mortgage Coming to an End - What to do Next?
Comments
-
It's fraud, and could leave you liable to criminal prosecution.May be a stupid question, but a colleague of mine who found himself in a similar situation having been made redundant a while back bit the bullet and decided to rent his flat out as was, effectively without owning the property outright.
Risky business I know - what would be the consequences of such an action if caught, and what is the likelihood of that happening?
In addition, you would be in breach of your mortgage terms and conditions, and theoretically the lender could call in the mortgage, requiring immediate repayment of the full amount or repossession, (although this never happens) or impose a financial penalty.
Your insurance would also be invalid.
anyway have a read through this thread
https://forums.moneysavingexpert.com/discussion/1377883poppy100
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.2K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards