Letting my mortgaged home

Simon_gloster

Mk14:37 wrote: »

If all goes to plan I should soon be leaving these shores for three years and I'm currently planning to let my home while I'm away.

Does anybody know of a mortgage product/provider that would allow me to let the property without switching to buy-to-let?

Alternatively, does anyone have an authoritative view on the drawbacks of letting without permission, and the likelihood of being 'caught'?

I thonl i've posted this before......i know 2 people who did this on a wider scale.......i wontbget caught....

Ate porridge for 6 months and the closure of metal doors. Tenants found out thru the press, trashed the flat ob a res insurance policy. Void claim. £4000 damage. Couldnt pay or rent it so repo'd at a loss of £15k.

If you do it illegally but inform the insurer of a change of address, whos to say they wont tell the lender. It will come and get you. Dont do it.

MissMoneypenny

Mk14:37 wrote: »

Hadn't considered that it would invalidate the insurance

From the Association of Residential Letting Agents site:-

http://www.arla.co.uk/information/in...ngs-insurance/

"Consent. It is essential that you advise and obtain consent to let your property from your mortgage lender, existing insurer and head lessee (for leasehold properties). Failure to obtain written consent from these parties may render your insurance void in the event of a claim. Sadly there have been many instances where buildings claims have been totally rejected because the insurer and or mortgage lender was not advised the property was let."

Simon_gloster

Mk14:37 wrote: »

If all goes to plan I should soon be leaving these shores for three years and I'm currently planning to let my home while I'm away.

Does anybody know of a mortgage product/provider that would allow me to let the property without switching to buy-to-let?

Alternatively, does anyone have an authoritative view on the drawbacks of letting without permission, and the likelihood of being 'caught'?

Booootiful. Millions get away with, some dont. Th ones that dont then feel hard done by when caught and COMPLAIN they were advised incorrectly. No sympathy from me.