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I have moved across country, flat is for sale, friend is tenant only to cover costs while flat is on the market. Mortgage provider (HBOS) now insist on changing to buy to let, at double cost, even though flat is clearly for sale. Can they enforce it?

4 Thoughts on Can my mortgage provider insist on changing mortgage while I rent out flat only while it is for sale?
  1. Reply
    mαskєd lαndlσrd
    April 12, 2012 at 7:27 am

    Oh yes – by renting the property, you ave increased the risk on their security.

  2. Reply
    April 12, 2012 at 8:06 am

    Yes they can since that was in your contract when you took the mortgage. You applied for and received a primary residence mortgage and since it is now a rental the mortgage lender can switch you to commercial rates. Read your original contract

  3. Reply
    April 12, 2012 at 8:49 am

    Yes, because you are renting it out.

  4. Reply
    ayden Son
    April 12, 2012 at 9:24 am

    Definitely he will ask for the another as you are increasing the risk on him

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