7:51 AM, 20th September 2013, About 8 years ago 20
I have been reckless in not informing my mortgage lender that I’m renting my property out, however my most recent tenants have left the place in a state and I need to claim on malicious damage.
I’m concerned firstly that my insurer will contact my mortgage lender, and secondly if they do inform them, what are they likely to do?
Luckily there are no tenants in there at the moment so no one can be evicted, but can my house be repossessed?
I’ve never missed a payment, however the mortgage does have a guarantor on it.
My final concern is if the mortgage company demand repayment or switch my mortgage to a buy to let or black mark me, will this affect the guarantor as well or just me?
My thoughts are to stay away from the insurer and just foot the bill for the damage caused?
On another note, I would like to do things properly and request permission to let. If the mortgage lender says yes, is there any way of them finding out that I’ve already been renting it without consent?
In an ideal world id like to do the right thing with as little consequence as possible, whilst I know some mistakes will have to be paid for, if anyone has any advice on all the above I would be eternally grateful!!
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Advice and implementation provided by a practising Barrister-At-Law with £10,000,000 of Professional Indemnity InsuranceBook Now
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|