Renting house in UK

[Guest DianeJ]

Hi All,

We are having to rent out our house as we can't sell. Today we received the ok from our mortgage provider but they are charging us 1% on top of the mortgage. Has anyone else who is renting out their house had this added? We fly 4 weeks today and should have had people viewing but they didn't turn up:arghh:

 

Diane

 

Flying from Heathrow 14/02/09

[Denise]

Hi Diane

 

They are such rip off merchants aren't they. I asked ours for a letter/reference to state we have never defferred on our payments etc,,, to help us secure a rental, they said they would write it for £78!!!!

Luckily I told them where to shove it, contacted a different branch and they are doing it for free!

Back to the renting though, we had the same in a statement so we are now renting without telling them, risky we know but I know lots of people who do it.

[Guest DianeJ]

Hi Diane

 

They are such rip off merchants aren't they. I asked ours for a letter/reference to state we have never defferred on our payments etc,,, to help us secure a rental, they said they would write it for £78!!!!

Luckily I told them where to shove it, contacted a different branch and they are doing it for free!

Back to the renting though, we had the same in a statement so we are now renting without telling them, risky we know but I know lots of people who do it.

 

 

Hi Denise,

Yes they are rip off merchants, they must think we're going to be making a profit from renting!!! not at this rate we're not, covering costs hopefully. We had to pay them £100 just to fill a form in:goofy: . As for not telling them well I am an unlucky b***er

and would probably be found out!

 

Di

[Guest sam2500]

Hi DIANE,

I just cant understand why anyone would tell these rip off companys.

They are the ones that have caused the mess in the first place!

As long as you pay at the end of the month until you sell ,then whats the problem?

You have to pay an extra 1% now for being honest!??

David

[Guest DianeJ]

Hi DIANE,

I just cant understand why anyone would tell these rip off companys.

They are the ones that have caused the mess in the first place!

As long as you pay at the end of the month until you sell ,then whats the problem?

You have to pay an extra 1% now for being honest!??

David

 

 

Hi David

The letting agents we are with ask for approval from your mortgage lender so we have no choice really. I am going to ring the building society tomorrow and see what gives, so much for being a loyal customer for 13 years with no missed payments !

 

Di

[Guest HALT]

Hi

We were in the same position and the other thing that scared me was that the house insurance would be invalid if we did not tell them about tenants so i really couldn't afford to risk losing the house and not being covered by insurance for the sake of 1%. Our rent only covers 1/2 the mortgage so we are defo not making a profit!!!

[Liz and Kris UK]

Hiya,

we are also renting our house out without letting the mortgage people know. I have posted on here before ranting about the ridiculous amount they wanted. We are covered on our house insurance as its the same one that they advise you to have when you rent your house out anyway. I would check the small print on a few different house insurances it might be easier to swop it over at least that way there would be some peace of mind.

 

liz

[Guest BAZnDAF]

If your mortgage company find out that your renting your property and you have not swapped your mortgage, i beleive they will hold you in breach of contract, and revoke the mortgage. Might be worth checking the legality of it. Personally I would change the mortgage and swap it to an interest only to help keep the payments down.

[Guest Guest1495]

Hi, were with Nationwide doing the same with our flat, they have no additional charges or adverse conditions. We just have to let them know and make sure we have sufficient insurance. There base rate is the lowest in the UK as well at the moment, maybe you wont have time to change now but it could be worth bearing in mind for the future.

[Guest DianeJ]

Hi All,

Had a result this morning, phoned my building society and they said the letter was sent in error yippee................... as we have a low LTV (loan to value) there isn't going to be anything added.

 

Thanks for all your replies

 

Di

[Denise]

Thats great news Diane, interesting about the insurance though, I hadnt checked that, we have changed our mortgage to interest only so our payments are much lower now - phew, still counting on selling though, 4months left and easter is round the corner, I am still living in hope!

[Guest DianeJ]

Thats great news Diane, interesting about the insurance though, I hadnt checked that, we have changed our mortgage to interest only so our payments are much lower now - phew, still counting on selling though, 4months left and easter is round the corner, I am still living in hope!

 

 

Hi Denise,

My OH, ever the cynic thinks that if I hadn't phoned they may not have seen their error!

I am getting quotes for building insurance as the building society need to see proof.

 

Diane