Letting without consent to let.

moneybunny123

The only reason why I want to stay on the existing mortgage is that the product ends in February/March anyway. Hopefully, I'll have sold by then, but up until then I'll be liable for a £1300 early redemption fee. To pay this fee just to find an alternative mortgage product for the sake of a few months wouldn't be worth my while.

RobertoMoir

mconnolly81 wrote: »

Thanks for all the honest and frank replies. Looks like i'm going to have to suffer the huge financial hit.

The lenders though must realise that people out there do let without consent. I guess after the clamp down on overdraft charges and PPI, charging £1499 plus the sharp end of a 1% interest hike its the next way of robbing consumers.

As you mention "robbing", the police and the courts are well aware that some people do steal things, and the DSS (or whatever they're called these days) are well aware that people commit benefit fraud but they wouldn't consider "other people do it and get away with it" as a valid defence.

At the end of the day its up to you whether or not you want to do it on the sly, as you say, some people do and get away with it, but just be aware that there's a risk to that choice.

silvercar

I have a question (sorry to hijack). I have a consent to lease with the Halifax and have rented out my property for the last 2 and a half years. However, we'll be moving back into the house soon with a view to selling it as quickly as possible. Can I move back in there myself without changing the mortgage back to a "normal" mortgage?

If it is consent to let as opposed to a buy-to-let mortgage then it should be as simple as writing to the Halifax and informing them that you are back in the property so no longer require the consent.

moneybunny123

silvercar wrote: »

If it is consent to let as opposed to a buy-to-let mortgage then it should be as simple as writing to the Halifax and informing them that you are back in the property so no longer require the consent.

Well, the weird thing is, when I took the mortgage out I was under the impression it was a buy-to-let as I remember being told by the mortgage advisor that if I was to move back in I'd need to tell them to go back onto a residential mortgage. HOWEVER....a few months ago when I went to see them about the possibility of borrowing more money, I was told that it wasn't a buy-to-let mortgage but I had a consent to lease (for which I'd paid £1500 for the privilege!)