How to tell if a homeowner is doing BTL but told his lender he/she doing FTB

F37A

Hi 

How can I confirm this for sure. I am suspcious of some activity and I know that they can't get away with it.

First time buyer get lower rates than BTL and above would not be fair.

Thanks

Edi81

And your connection to this is?

Martin_the_Unjust

It’s relatively easy, but tell me first why you wish to know?

canaldumidi

You're the seller?

It really is not your concern either how/where your buyer is getting the money (thats a matter for his lender(s) and/or solicitor (money laundering), or what he plans to do with your ex-property.

Just focus on your sale.

If it falls through for any of the 236 possible reasons (one being FTB lender declines BTL mortgage), well, sales fall through for all sorts of reasons all the time.

No point worrying about what might happen but is outside your control.

F37A

Edi81 said:

And your connection to this is?

My connection is that I can see suspcious activity and its unfair on genuine First Time Buyers and I don't think the activity is ethical. Is it not a breach of the contract on the part of the individual who's trying it? Who can I contact about it.

F37A

Martin_the_Unjust said:

It’s relatively easy, but tell me first why you wish to know?

Why do I want to know? Its a breach of conditions of mortgage if found to be true. Because one can contact the lender so they get found out if one wants to do that.

user1977

F37A said:

Edi81 said:

And your connection to this is?

Who can I contact about it.

Nobody who's likely to be able or interested in doing anything about it. 

F37A

user1977 said:

F37A said:

Edi81 said:

And your connection to this is?

Who can I contact about it.

Nobody who's likely to be able or interested in doing anything about it. 

Well the lender will care as its a breach of terms and conditions if he/she paying FTB rate but they not living at property

TripleH

At this point in time the buyer has not done anything wrong. They could argue any complaints are hearsay and untrue.

The mortgage company are only likely to take action after completion when (and if) the buyer rents out the property completely because that is the point at which 'wrong doing' has taken place.

babyblade41

Who cares ,, if it was me selling to an unscrupulous buyer, as long as it doesn't affect the sale I won't be that bothered 
Lenders will do their diligence and will act if this turns out to be fraudulent .

Pick your battles wisely, this isn't one of them 

user1977

F37A said:

user1977 said:

F37A said:

Edi81 said:

And your connection to this is?

Who can I contact about it.

Nobody who's likely to be able or interested in doing anything about it. 

Well the lender will care as its a breach of terms and conditions if he/she paying FTB rate but they not living at property

So how do you propose to contact anybody at their lender who's going to be able to link your info to an ongoing mortgage application? Or treat your allegations as more credible than the other information they have?