kirsty81 Posted March 10, 2014 Report Share Posted March 10, 2014 Hi folks Have a slight dilemma. Moving in 2 weeks and have mortgage issues!!! I am unable to sell my property and will continue to rent it. However, my mortgage company is not giving me permission to let. Is anyone renting their property out and have a buy to let mortgage? In addition, 1 bank I spoke to say them do not provide a mortgage if I am emigrating. Thanks Kirsty Quote Link to comment Share on other sites More sharing options...
elfie Posted March 10, 2014 Report Share Posted March 10, 2014 Hi folks Have a slight dilemma. Moving in 2 weeks and have mortgage issues!!! I am unable to sell my property and will continue to rent it. However, my mortgage company is not giving me permission to let. Is anyone renting their property out and have a buy to let mortgage? In addition, 1 bank I spoke to say them do not provide a mortgage if I am emigrating. Thanks Kirsty We have 2 properties one empty presently as we are selling the other let. A buy to let mortgage is usual part repayment part interest only or all interest only to enable tax relief on rental income. Why wont your present lender give permission for it to be let out? Quote Link to comment Share on other sites More sharing options...
kirsty81 Posted March 10, 2014 Author Report Share Posted March 10, 2014 I have no idea. It's a professional mortgage and you get permission to let. I don't know if putting the emigrating to Australia has put them off. Who is your mortgage with if you don't mind me asking? Thank you Quote Link to comment Share on other sites More sharing options...
PeachyPom Posted March 10, 2014 Report Share Posted March 10, 2014 Hi folks Have a slight dilemma. Moving in 2 weeks and have mortgage issues!!! I am unable to sell my property and will continue to rent it. However, my mortgage company is not giving me permission to let. Is anyone renting their property out and have a buy to let mortgage? In addition, 1 bank I spoke to say them do not provide a mortgage if I am emigrating. Thanks Kirsty Have you tried consulting a mortgage broker? There is always the option of those companies to take it off your hands at below market value too. Not ideal I know, but if you do get really stuck, worth bearing in mind. Good luck. Quote Link to comment Share on other sites More sharing options...
Glenlivet Posted March 10, 2014 Report Share Posted March 10, 2014 I know someone with similar issue! In the end were advised by IFA to jump ships to new provider without telling them they were emigrating until 6 months after the transfer. From memory it was a long drawn affair Quote Link to comment Share on other sites More sharing options...
linda@no9 Posted March 10, 2014 Report Share Posted March 10, 2014 Tell me about it!! Bloody nightmare!!! Quote Link to comment Share on other sites More sharing options...
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