Leaving your property in England with one of your children

[Guest BAZnDAF]

Hi all,

 

I'm looking for anyone who has left their property in England with one of their children living in it.

 

I'm after some info regarding the legal side of doing this and how the mortgage company deals with it etc..

 

Thanks

 

Baz.

[Guest WhatNow?]

I did this - I left my son in charge from February till September (when he was going to uni). Then I went back August-Sept to clear the furniture and let it to tenants. I have to say my son was a very mature 17 and the house was as tidy when I got back as when I left. I didn't inform the mortgage lender as my mortgage is a fraction of the house value. I kept the house insurance as normal - didn't see any reason not to. I wouldn;t recommend this to everyone but I had not much choice and my son made it a matter of pride not to abuse the trust I placed in him.

[Guest BAZnDAF]

Well, its my daughter who's 19 she is looking to rent somewhere and its hard as a parent to say no!

 

Thanks for the info.

[Guest thekings]

We have recently bought a house with the intention of letting it out in the future. As far as the mortgage company is concerned we do NOT have to go onto a different mortgage rate just because we are renting it out to someone as long as we have lived in it for a minimum of 6 months. They did ask for the tennant to sign some agreement though as the property is technically theirs and not yours and they want to protect their investment.

 

As far as renting to family and declaring it to the mortgage company personally I wouldn't bother telling them or setting up a tenancy agreement unless the family member intended to share it with another party or partner.