Saturday, February 20, 2010

Can i let my newly bought house out without changing to buy to let?

I have recently purchased this house on mortgage from halifax, i was told i can'e go for buy to let as i don't have permanent right to remain in Uk, i have work permit visa till oct 2009,i paid 20% deposit, i am a radiographer with NHS, now if i ask fro thr permission to rent out from mortagge company , will i be granted that ?Can i let my newly bought house out without changing to buy to let?
I do not think so. You will need to read the small print on the mortgage agreement.Can i let my newly bought house out without changing to buy to let?
Michael H is right, except I would advise finding another lender who will give you a buy to let mortgage before informing the Halifax that you plan to move your mortgage, in case you fall between two stools
Normally you would pay a higher rate of interest and they will change you to a buy-to-let mortgage , yes. If halifax don't want you there are others that will take your business.





They often want a decent deposit, your 20% might do.





If you got a decent mortgage deal there might be a redemption period so you might have to pay back any bonus or discount you got





You need to tell them, if not it can void your insurance and mortgage T%26amp;Cs so they can recall the loan without notice.

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