baza31
Member
Registered: 19th Apr 03
Location: yorkshire
User status: Offline
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i know you shouldnt but does anyone? i cant see them looking into it
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dannymccann
Member
Registered: 9th Aug 06
Location: Doddington, Lincolnshire
User status: Offline
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Im sure there's someone who will outright own the place so wont have a mortgage, or do you mean on a normal repayment mortgage for your own residence and then 'sublet' it sort of thing? Which, as far as I was aware, was illegal?
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a_j_mair
Member
Registered: 23rd Jan 04
Location: Scotland
User status: Offline
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you should have a buy to let mortgage or at least ask permission form the provider to let.
I would not imagine any trouble if you did not though as long as you can make the payments
It it was me i wouldn't worry 
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AndyKent
Member
Registered: 3rd Sep 05
User status: Offline
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quote:
Originally posted by dannymccann
Im sure there's someone who will outright own the place so wont have a mortgage, or do you mean on a normal repayment mortgage for your own residence and then 'sublet' it sort of thing? Which, as far as I was aware, was illegal?
Not illegal at all. Against the terms of the mortgage company perhaps but not illegal. Nothing to stop anyone for letting a property with a mortgage though whether its the right or wrong kind.
As said, providing you keep up the repayments I doubt the lender would ever find out (unless someone shopped you in).
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amxor
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Registered: 12th May 05
Location: Rochester
User status: Offline
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You can get permission from most lenders - most charge an admin fee of around £50.
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Rob_Quads
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Registered: 29th Mar 01
Location: southampton
User status: Offline
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Most lenders will allow you to switch over - my girlfriends did although did cost £150
Not illegal as Andy said but against your mortage conditions.
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neoquip
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Registered: 12th Aug 02
Location: Nottm
User status: Offline
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but the mortgage interest rate will also go up as well!!!!!!
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Rob_Quads
Member
Registered: 29th Mar 01
Location: southampton
User status: Offline
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quote:
Originally posted by neoquip
but the mortgage interest rate will also go up as well!!!!!!
No it won't. It will only go up if you re-arrange. Most mortgage companies will just switch the existing policy meaning there is no change in rate.
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neoquip
Member
Registered: 12th Aug 02
Location: Nottm
User status: Offline
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quote:
Originally posted by Rob_Quads
quote:
Originally posted by neoquip
but the mortgage interest rate will also go up as well!!!!!!
No it won't. It will only go up if you re-arrange. Most mortgage companies will just switch the existing policy meaning there is no change in rate.
if they can get extra out of you they will.
http://www.moneysupermarket.com/mortgages/
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