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Letter of Concent to Let

2

Comments

  • Guest101
    Guest101 Posts: 15,764 Forumite
    mchale wrote: »
    But highly unlikely if mortgage payments are made.

    Except the interest on a BTL is higher than a residential, but you know mortgage lenders don't mind losing money......
  • mchale
    mchale Posts: 1,886 Forumite
    edited 9 February 2017 at 6:04PM
    Guest101 wrote: »
    Except the interest on a BTL is higher than a residential, but you know mortgage lenders don't mind losing money......


    Obviously, but that doesn't mean a mortgage will be recalled, try not to sound like a drama queen, it takes a lot to recall a mortgage that is up to date with repayments.
    ANURADHA KOIRALA ??? go on throw it in google.
  • theartfullodger
    theartfullodger Posts: 15,776 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 9 February 2017 at 6:04PM
    Guest101 wrote: »
    Your friends are risking having their mortgage recalled.....
    +1


    And being put on mortgage blacklist, likely barred from future mortgages... see
    http://www.telegraph.co.uk/finance/personalfinance/borrowing/11467480/The-secret-database-blacklisting-borrowers.html

    Great isn't it: OP is thinking about ignoring and breaking the terms of his mortgage contract: And how would he feel if his tenant then ignored & broke the terms of his tenancy contract??
  • Guest101
    Guest101 Posts: 15,764 Forumite
    mchale wrote: »
    Obviously, but that doesn't mean a mortgage will be automatically recalled, try not to sound like a drama queen, it takes a lot to recall a mortgage that is up to date with repayments.



    "Your friends are risking having their mortgage recalled..... "


    Can you point out where I said it would 'automatically" be recalled - I've quoted my original post for ease.
  • Guest101
    Guest101 Posts: 15,764 Forumite
    theartfullodger wrote: »
    +1


    And being put on mortgage blacklist, likely barred from future mortgages...

    Great isn't it: OP is thinking about ignoring and breaking the terms of his mortgage contract: And how would he feel if his tenant then ignored & broke the terms of his tenancy contract??



    It's alright mchale is an expert on this and has read the terms and conditions of the OPs mortgage... :)
  • mchale
    mchale Posts: 1,886 Forumite
    Guest101 wrote: »
    "Your friends are risking having their mortgage recalled..... "


    Can you point out where I said it would 'automatically" be recalled - I've quoted my original post for ease.


    Happy :rotfl: :rotfl: :rotfl:
    ANURADHA KOIRALA ??? go on throw it in google.
  • mchale
    mchale Posts: 1,886 Forumite
    Guest101 wrote: »
    It's alright mchale is an expert on this and has read the terms and conditions of the OPs mortgage... :)


    No expert, but I don't know of any people who have had mortgages recalled that are up to date with repayment's who let the property out.
    ANURADHA KOIRALA ??? go on throw it in google.
  • Guest101
    Guest101 Posts: 15,764 Forumite
    mchale wrote: »
    No expert, but I don't know of any people who have had mortgages recalled that are up to date with repayment's who let the property out.



    Out of curiosity how many people do you know that are fraudulent landlords?
  • mchale
    mchale Posts: 1,886 Forumite
    Guest101 wrote: »
    Out of curiosity how many people do you know that are fraudulent landlords?

    Quite a few, but remember a mortgage is only a loan secured on a building, as long as repayments are made the banks & b/s are generally happy.
    ANURADHA KOIRALA ??? go on throw it in google.
  • Guest101
    Guest101 Posts: 15,764 Forumite
    mchale wrote: »
    Quite a few, but remember a mortgage is only a loan secured on a building, as long as repayments are made the banks & b/s are generally happy.

    10, 100, 1000? I mean there's approximately 2 million landlords in the UK.


    (leaving aside any judgment on the company you keep)


    I agree they are generally happy when they get the repayments, not quite so happy when those repayments are under due to the customer committing fraud.
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