Councils using ‘Intelligence’ to track down low EPC properties and fine £5,00015:08 PM, 29th March 2021
About 2 weeks ago 36
I took out a mortgage in 2007 using a broker for a property, which at the time was our residential property. In 2008 I took another mortgage to buy a second property which then became our residence , with our first property being rented.
During the process of obtaining our second mortgage, we contacted our first mortgage provider to inform them of our plans to put the property on rent and if this would be within the terms of the mortgage. The mortgage provided informed us that they had no issue.
Over time our mortgage has been taken over by another management company, and we were informed of such but did not have to sign any document, we simply kept paying the monthly bill.
We have now received a letter from the new mortgage management company stating that it has come to their attention that the property is being rented and that this is in breach of their terms and conditions. They have asked us to provide full details of the rental agreement, which I am happy to do.
All our mortgage payments are and have been made on time so we are up to date, but obviously my worry is that they come back and request that the property is taken off the rental market. As we originally clarified the intention with our original mortgage provider, had no say in the mortgage being taken over or transferred to the new provider, can anyone advise on what our position would be should the new provider object?
Unfortunately we are not is a position to pay off the mortgage.
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