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.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. 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!
Telling building soc that I intend to let my house
Comments
-
What do people think of my mortgage adviser's suggestion that I don't tell the building society, they won't inquire as long as payments are forthcoming? I am confident that I can keep up the payments.0
-
Laurence_WMF wrote: »What do people think of my mortgage adviser's suggestion that I don't tell the building society, they won't inquire as long as payments are forthcoming? I am confident that I can keep up the payments.
I think your MA needs reporting to his/her professional body for advising that you should breach the terms of the mortgage.0 -
Laurence_WMF wrote: »What do people think of my mortgage adviser's suggestion that I don't tell the building society, they won't inquire as long as payments are forthcoming? I am confident that I can keep up the payments.
Your landlords insurance could be invalidated in the event of a claim.0 -
This is the kind of advice I'd expect you to get from 'a bloke down the pub'.Laurence_WMF wrote: »What do people think of my mortgage adviser's suggestion that I don't tell the building society, they won't inquire as long as payments are forthcoming? I am confident that I can keep up the payments.
NOT from a professional who is subject to the rules of a regulatory body.
There are a number of ways a mortgage lender might find out you are breaking the terms of your agreement with them, including:
* new insurance policy, or insurance claim
* letters from lender returned to sender (because of course you can't tell the lender your rela address)
* tax authorities (when checking your rent is being declared....)
* missed mortgage payments, whether due to insufficient funds or just 'bank error'
* disgruntled tenant (neighbour, partner, whoever) tells them
* search of council tax register, credit agencies, electoral role showing your residence elsewhere
* etc
and out of interest, if you're thinking of hiding your business from your mortgage lender, will you also hide your business income from HMRC? Will you 'chance it' by not switching to landlords insurance.....?0 -
Thought this would get some strong reaction!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.5K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.4K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards