9:00 AM, 5th April 2019, About 2 years ago 8
I bought my house mortgage free 18 years ago to house myself and my 2 kids. I got a residential mortgage with Halifax 14 years ago and built a 2 storey extension to the side of my house consisting of granny annex & double garage. The granny annex was to house my ill mother, but unfortunately she never lived long enough to move in, so, over the past 12 years I have been renting the granny annex out. I also converted the double garage into a self contained space and this is also rented out for 4 and half years now.
Council tax is being paid on 3 separate households. With regard to the mortgage I signed up for a residential 5 year fixed deal with Halifax only 6 months ago (15 years term left). The mortgage has always been with Halifax since the start and deals are not forthcoming from other mortgage providers as I live off maintenance from me Ex and am on/off working.. am 53. I have 90% equity in the house and 10% mortgage.
I’m worried to contact Halifax and confess the rentals, but I know I need to do so for peace of mind. So my question is that if I go for ‘consent to let’ with Halifax should I fess up to the fact I have been letting these spaces for the length of time I have? Could I just talk about the 2 current tenants, one who moved in Dec 2016 and the other March 2018 which might have more financially palatable consequences for me if they decide to back charge interest? How do you think Halifax will respond in any case that I let without their consent? What should my approach be?
In the long term I may move into the annex myself and rent out the main house or indeed sell the property. I know I need to make the call but I just want some good advice before I do so please.
Thank you for listening
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