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Quick query about leaving son in house/insurance/mortgage etc.
aliasojo
Posts: 23,053 Forumite
IF our son stays on in our family home after we move to a different area and there is no tenancy as such (no rent being charged etc -he would just deal with the everyday expenses like electricity used and such like)......do we still need to change our house insurance and ask our mortgage company for permission to let even although we're not actually letting iyswim?
The only difference would be that we wouldn't be in it.
The only difference would be that we wouldn't be in it.
Herman - MP for all! 
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Comments
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My understanding is that a Residential mortgage is just that - the mortgagees should be resident. If you are not, then the mortgage lender needs to know.
Similarly, ask the insurance company.
Better safe than sorry in both cases. Lenders and Insurers vary in their terms and conditions, so yours may be sympathetic under these circumstances, but if you do not ask permission, the worse that can happen - repossession or a void insurance claim if it burns down!!!!
If in doubt ASK!!!!0 -
Just as a quick update....I called the mortgage company. They are fine if son stays on in house in this situation. No permission or changes needed.Herman - MP for all!
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