I forgot to tell my mortgage provider I’m letting my property?

I forgot to tell my mortgage provider I’m letting my property?

11:25 AM, 18th October 2022, About 2 years ago 12

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We have a residential mortgage from Barclays which does allow us to let our property during our fixed term with no rate increase. My husband got offered a job abroad and we have consequently moved to Norway.

We let our property out through a letting agent and we have landlords insurance. But.. we forgot to tell Barclays … its been 2 yrs now!!

Having realised our error, we have now asked for the consent to let forms BUT should we say it’s been so long or should we just notify them as if it has just started ???

How much trouble can we be in?

Helsbels


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Chris Bradley

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7:31 AM, 20th October 2022, About 2 years ago

If you now live abroad, you should check the mortgage as often it specifies that you are a British resident.
You may have to change the mortgage to a BTL for non resident landlords

Freda Blogs

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11:27 AM, 21st October 2022, About 2 years ago

I think it’s the case that you are effectively uninsured even if you have a policy: the insurance will not be honoured if you don’t have a proper BTL mortgage or formal documented consent to let.

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