Residential mortgage consent to lease. Long question

You are here : Member Forums Campaigning and Policy Residential mortgage consent to lease. Long question
This topic has been locked as no posts have been made within the last 90 days.
M
Member
3 Posts
0 Thanks
I have 2 lodgers in my house who have agreed to stay for around a year. Thats fine. However I also have 2 OTHER friends who want to stay as lodgers for only around 3 months. With me as a live in landlord and 4 lodgers that makes 5 which yep you guessed it makes it a hmo. not a problem, i have applied for the hmo license and all is well with this. However heres the unique problem which you probebly haven't encoutered before.

I have managed to get a hmo license WITHOUT having a buy to let mortgage due to me being a live in landlord. I have a residencial mortgage.

However I only have consent to lease for a total of 2 lodgers from my bank. Is there any way to ask my bank for a 'tempory extra lease' or something for 2 MORE lodgers who dont want to stay long? Do they do this? (Do they even check? If so how?) I must stress the 2 lodgers are friends im trying to help out and will only stay a few months. My mortgage is with halifax.

So I guess the question is, whats the deal with residencial mortgage lenders when you go over the maximum 2 lodgers allowed if they are only tempory lodgers. Is there a way to gain a permit for them? Or should I just play it safe and tell my friends they cant stay at the moment. I know this is the easiest answer for you to give but please try to find a way as my two friends would greatly appreciate it. I know they could switch me to another mortgage to suit however this it is only short term that i will be over the limite of allowed lodgers.

and seriously, how do the banks find out exactly how many lodgers I have? do they do raids etc? i cant imagine it as long as I pay my mortgage on time every month.

Thanks.

23/08/2011 00:00

Want to read more?

This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.

This topic has been locked as no posts have been made within the last 90 days.
Ideal Flatmate
Elfin Kitchens
Landlord Broadband
John Pye Auctions

Share this page