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legalities on buy to let or not buy to let!
bobsyerunkle
Posts: 92 Forumite
hi.
just wondered if someone were to rent there house out to there friends and they didnt have a buy to let mortgage, is there anyway the mortgage lender can find out?
thanks
just wondered if someone were to rent there house out to there friends and they didnt have a buy to let mortgage, is there anyway the mortgage lender can find out?
thanks
0
Comments
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I guess it depends how much you trust your friends...
Whether or not you tell the mortgage company, you must ensure you have correct building insurance or you won't be covered if anything went wrong.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 -
Most mortgage companies will let you do this but they will charge an admin fee. Some people want to travel or have to move to a new location for a while with their job. I would ring up your own mortgage people and ask them what is involved for your circumstances.0
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