Can I move into my Buy To Let without telling the lender?

Posted on 16 February 2013 by Louise


I have a buy to let mortgage and I want to start living at the property myself. The mortgage is with Mortgage Express and I don't want to let them know - I know I should be above aboard with them but how likely is it that they will find out?

Louise,

You are correct that you should inform your lender that you are intending to move into the property. Most lenders would look to view your application sympathetically, as long you meet their affordability and standard criteria. 

Is there a specific reason that you don't want them to know ? If you do move into your Buy To Let then you would be in breach of your contract with the lender, which we would most strongly advise against. This is a particular area of conecern with the regulator at the moment, and it is all too easy for a lender to find out that you are living in the property.

If you'd like to talk through your situation and options open to you, then please let me know and I can arrange for you to talk one of our consultants.

Regards,

Simon

simon.collins@johncharcol.co.uk

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