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Can I live in my buy-to-let property?
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sunshine25 wrote: »Please be assured that we took the btl mortgage out when finances were different. We have had a change beyond our control so no fraudulent tactics have been used
Why aren't you selling it then?0 -
Sorry I was just asking for advice not judgement.0
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sunshine25 wrote: »Sorry I was just asking for advice not judgement.
I wasn't judging.
Your asking if you can live in the property, but we cant tell you that as your contract with the lender is not here to read through.
There's a good chance that your contract prevents it.
Selling it would open up some capital presumably, which will help with your situation.
Circumstances change, so in essence what your saying is, it's not my fault, but because it's not my fault it's ok for me to breach my mortgage.
- personally I'm fine with that, just be honest about it.0 -
No. If you would read my original request it asked 'how to approach this with my current lender' not how to commit fraud. thanks anyway0
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and the answer is you check your contract to see what it says about living in the BTL. As stated most contract state that is not allowed.sunshine25 wrote: »No. If you would read my original request it asked 'how to approach this with my current lender' not how to commit fraud. thanks anyway
You therefore have only one option, you ask the lender what its attitude would be to you doing just that, we cannot say how they will respond since we are not them. Patently your approach is to be open and truthful since you do not wish to commit fraud.
Since you OP merely says you have had the BTL " for a while" it is impossible to predict the lender's reaction. As others say hardly unknown for circumstances to change and people to move houses, but your has never previously been your home so it is (on paper) a significantly different matter to someone reoccupying their ex home0 -
sunshine25 wrote: »No. If you would read my original request it asked 'how to approach this with my current lender' not how to commit fraud. thanks anyway
You wouldn't be committing fraud as you said you had applied for the mortgage with the intention of renting it out and indeed that is what you did.
You are now talking of breaching a mortgage condition. That may be contractually wrong, but it certainly isn't fraud.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
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