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Letting a Property

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Letting a Property

Postby radcamper on Sat Mar 10, 2012 11:30 am

I have a flat L/H property and i wanted to let it coz we wanted to move and have a 2nd mortgage keeping our first house and LET the first house.Do i need to inform our bank?What might be the consequence if in case i don't inform the bank and just let it be rented?Any one who have brilliant ideas please!!!!.... ;) Thanks
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Re: Letting a Property

Postby gapeachuk on Mon Mar 19, 2012 8:11 am

In short, the bank would look for the mortgage to be moved on to a 'buy-to-let' product, if they had appetite for such a lend. You generally wouldn't be able to let a property on a continued basis with a regular residential mortgage as you would be in breach of your loan terms. What you need to do is refer back to your mortgage agreement.

Of course, in the first instance the bank is reliant upon you to confirm your intentions...
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Re: Letting a Property

Postby gapeachuk on Mon Mar 19, 2012 8:21 am

Oh, and to add to my earlier answer the consequences of not informing the bank are that they could call in the debt and demand immediate full repayment - an action they can take more readily if it is an investment property rather than your residence.
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Re: Letting a Property

Postby Barker on Wed Mar 21, 2012 2:05 pm

Just tell me one thing that how much amount you need to let the property. In other words, what is your demand?
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Re: Letting a Property

Postby madeleine on Fri Jul 06, 2012 5:42 am

Well....
Just want to know the location of your flat where it located i actually wanted to let a home or flat so provide me some info such as: the flat size, actual location, price, estimated rented time etc....
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Re: Letting a Property

Postby jummy125 on Mon Jul 23, 2012 7:00 am

Well, I am looking for a luxury flat on rent, with all the facilities of life. If your flat have this than you can contact to me
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Re: Letting a Property

Postby jummy125 on Tue Jul 24, 2012 5:48 am

where you flat situated , I am looking a flat which is near to Leeds university
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Re: Letting a Property

Postby jummy4242 on Tue Jul 24, 2012 5:57 am

I am student in Leeds university and am looking for a rental apartment anybody can help me
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Re: Letting a Property

Postby jummy4242 on Wed Jul 25, 2012 9:32 am

I also looking a luxury apartment for rent
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Re: Letting a Property

Postby stockport1965 on Wed Oct 24, 2012 3:28 pm

It would be a let to buy mortgage. Some mortgage companies allow you to rent it for 12 months on the old mortgage
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Re: Letting a Property

Postby bilalahmed on Fri Dec 14, 2012 9:44 am

It's for people who have limited income. These bank deposit accounts can be opened with a minimum initial deposit that varies from bank to bank
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