0:03 AM, 20th January 2023, About A year ago 3
Hello, A client of mine has a BTL mortgage and for various reasons cannot find a tenant. They are looking at doing the house as a HMO instead as there’s more demand, however their mortgage company doesn’t offer HMO mortgages and re-mortgaging would be prohibitively expensive due to rate increases.
What could happen if they do HMO but don’t tell the existing BTL lender?
And then the lender finds out?
They are in breach of the contract, what would the mortgage company realistically do based on the hassle and impact for lender?
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