11:08 AM, 1st February 2017, About 7 years ago 4
I bought a flat in London(residential mortgage), whilst working as contractor close to Brighton. The idea was to move to London as and when the contract finishes.
I lived in my new property for initial three months, but had to move back to Brighton as I was having few health issues and the commute was taking toll on my health and also my contract was renewed.
I started to let my property from the 4th month onwards (I know its not ethical but I was desperate).
Recently I received a letter from the council stating I require a licence (privately rented property licence) to rent the property. In the licence form I was asked to provide the details of all the interested parties i.e; my details,insurance info, planning permissions info, The current tenant details, the estate agent(through which the property is let) and the mortgage company details.
I am happy to pay the licence fee and provide all the details except the mortgage lender’s details. My lender provides the option to apply(online) for a consent to let after the initial 6 months (I am only few weeks away from 6months). I was anyways going to apply for a consent to let but my council has given me only 10 days to apply for licence.
Can someone suggest me on what should be the wise thing to do:
1) If I provide the details of my mortgage lender to the council, would the mortgage lender eventually know it?
2) When I approach my mortgage lender should I say that I have already let the property or should I just say that I require a consent to let. ( I want to be honest and upfront but at the same time dont want my mortage to be converted to buy-to-let product).
NB: I am paying rent at my current place which is few hundreds less than my mortgage EMI.
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