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Mortgage-Circumstances changed, please advice!
geras
Posts: 12 Forumite
Hello,
I have been with my mortgage provider for just over a year now, and i havent missed a payment ever, but i need to relocate to another city. the house hasnt sold,therefore i would like to let it out to reunite my family, at the moment we are separated, i have a 10 month old son so i miss them a lot....
one condition of the mortgage is that i must live in the house, but if i rent it, i wont be living in it. i wanted to ask the lender if they could make an exception for 2 or 3 years to let the house out and change the building insurance accordingly, but i fear they will say NO, which would mean i need to find another lender. i wont be able to find another lender because i only have one wage, whereas before there were two wages, with credit crunch nobaody will lend me money.
does anyone know if the lender is forced to give me the chance under the fair treatment to customers regulation, or if anyone has any idea that i could adopt to be together with my family again.
many thanks
I have been with my mortgage provider for just over a year now, and i havent missed a payment ever, but i need to relocate to another city. the house hasnt sold,therefore i would like to let it out to reunite my family, at the moment we are separated, i have a 10 month old son so i miss them a lot....
one condition of the mortgage is that i must live in the house, but if i rent it, i wont be living in it. i wanted to ask the lender if they could make an exception for 2 or 3 years to let the house out and change the building insurance accordingly, but i fear they will say NO, which would mean i need to find another lender. i wont be able to find another lender because i only have one wage, whereas before there were two wages, with credit crunch nobaody will lend me money.
does anyone know if the lender is forced to give me the chance under the fair treatment to customers regulation, or if anyone has any idea that i could adopt to be together with my family again.
many thanks
0
Comments
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Ask them for 'consent to let', first. Shouldn't be a problem if you have a decent record.0
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hi Markyt, thank you for your quick and somewhat reassuring reply. do you think that i should give them a call beforehand and explain or should i write a letter before calling them?
thanks again0 -
I would be tempted to ask without giving your name first.
If they did say no, do you have a back-up plan?
If they did say no, some people would let anyway. Move your building insurance away from the lender and get the correct cover.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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