Getting permission from lender to let my property?

vivatifosi

Just a thought, but as a middle option could amjad rent out a room under the government scheme? Could be a way to cover some of the costs without paying tax, while having access to their home, being able to move back at any time. The house could still be considered amjad's home as they plan to move back and by living with parents aren't going to another home that they own.

Don't know much about it, but what do you more knowledgeable people think?

Dan78_2

neverdespairgirl wrote: »

You bought it on a residential mortgage and let it out immediately?

Sounds like it could be fraud, to me.

I'm in a similar(ish) position, about to let out my flat on a residential mortgage - though can't find much of a better deal that the SVR Nationwide have just put me on to (once fees are considered) so will probably not remortgage. However I have considered remortgaging on a residential deal then phoning to say that I need to let it out due to a change in personal circumstances (which is, more-or-less, the truth).

It is perfectly possible that you take out a mortgage, and then immediately are asked to (for example) work abroad for a year. As long as you tell the mortgage company, and it's your only mortgage, then I don't see a problem and certainly nothing worth pursuing in court.