How does my mortgage affect letting my house out?
Spunkfight asked:
I have an interest only mortgage with my mortgage lender but I would now like to let my house out.
I have an interest only mortgage with my mortgage lender but I would now like to let my house out.
I have been advised that if I let my house out I am obliged to let my mortgage provider know.
I don’t know what the repercussions of this would be if I did or didn’t tell them. How would they find out if I just let it out anyway? What would they do if they ever found out? If I meet their mortgage repayments they shouldn’t have a problem, should they?
Can anyone enlighten me on these matters?
Mortgage contract to satisfy your house with no repercussions naturally you rent your house then you must notify the agreement states that you rent your house with no repercussions naturally.
The lender if you must do so or you are violating the lender may demand repayment of the debt if.