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tenant fallen behind on mortgage payment
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As long as you get the next payment in and be open with the bank you should be OK. I would look for a more reliable tenant.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
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This is a wind-up!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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I do not think you have got a buy to let mortgage, just permission from your lender to rent. If she does not pay the rent, you still have to pay the mortgage, all this should have been thought about at the time. What happens if you have a "dead" period between tenants? you will have to find it then. If she is in arrears then serve her the correct notice and re let, just remember that there may be dead months.Be-littling somebody only make's you look a bully.Any comments I make on here are my opinions, having worked in the lettings industry, and through life.0
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excuse my ignorance, but what is a troll?Be-littling somebody only make's you look a bully.Any comments I make on here are my opinions, having worked in the lettings industry, and through life.0
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Somebody who makes up and posts a story most likely to cause people to shout them down or call them silly etc... and then people turning up and calling the other posters names for what they said ... and it all goes round in circles for days....50plusabit wrote: »excuse my ignorance, but what is a troll?0 -
I dont think shes a troll. Just another btl landlord without a clue.0
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ruggedtoast wrote: »I dont think shes a troll. Just another btl landlord without a clue.
Has this become a 'spot the difference' thread?0 -
You have a rental property and a mortgage.
You shouldn't consider the mortgage payments and rent to be connected.
Are you saying that you have no money available to pay the mortgage apart from the rent? If that's the case what are you going to do when the tenant moves out, what about when things break down and you need to repair them?
If you are really that stretched then imho you shouldn't be trying to rent out the property - maybe try to sell it asap.
I also wonder how many rules you are breaking.0 -
excuse my ignorance, but what is a troll?
I am a Troll and have a fever because I live under a bridge.
Things should improve when my new house arrives from Argos.0 -
not a troll ! lol !Yes I am a bit, ok a lot ignorant when it comes to things like this ! I was desperate to move as I was expeting twins and I alread had a two year old!! and the rental property is only a 2 bed terrace so I was peruaded into a buy to let by the mortgage advisor (even though he knew our financial situation) so I could have a quick move, as in the area I live in rental property is hard to come buy and house prices are sickening! it seemed like a good idea at the time.But now Im having second thoughts ??? Does anybody have any advice on the companies that buy your property at 95% value that I have seen in the paper ? I bought the property for 72,000 and now it's valued at 88,00 so I'm assuming I would'nt make a loss ?
I did have money on the side incase of an emergeny but that has gone with various little problems along the way.
I've spoken to a few people and they have told not to worry to much but I can't help it.I hope anybody reading this does'nt get put off by renting but try and be a bit more prepared than me !!!
Sorry for being a pain in the butt moaning !!0
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