Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 2 weeks ago 35
I work overseas and have a home in the UK. My youngest son will leave home this Summer, so the property will then be vacant for 10~11 months of the year.
I will be in breach of the mortgage term if I leave the property empty for more than 45 days, but when I asked for permission to let, my mortgage company informed me that I have to convert to a BTL product at a much higher interest rate.
Can they do this? My work contract will be for a further 2 years minimum. I am not a property investor. What would happen on my return?
Thanks for your guidance.
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