Letting my house without telling the mortgage company

Reply to the comment left by "Mark Alexander" at "12/03/2013 - 20:59":

Hi Mark, I have let out a property but didn't realise that I might need permission from my lender. This has only come to my attention very recently. I am looking to sort this out but am afraid of any checks that my lender may do. I have been letting the property out for 4 years, so, will they ask about that? And what specifically do you mean when you say that letting a property out without permission is not a crime?

Many thanks

Reply to the comment left by "Mark " at "09/08/2013 - 17:34":

Breaching T & C's is not a criminal offence.
You would be best keeping quiet
If you are reoccupying the property as a PPR then don't say anything.
If you wish to continue letting the property; ask a generic question without identifying yourself as to the conditions if a consent to let etc was needed and what would occur etc.
If you identify yourself the lender could repossess your property..
Let sleeping dogs lie and carry on as you have unless the conditions for consent to let are worth you managing.
Invariably lenders say such silly things like changing the IR; changing the mortgage to worse conditions, requiring cash injection to reduce LTV.
Effectively it would make your property unviable; so why would you fess up and possibly lose everything!?
Do the research to ascertain what would be the situation.
Very doubtful whether the lender would give permission without changing conditions
Normally such permission is NOT open ended etc.
You probably wouldn't qualify for a new mortgage and would have to sell if you could
Honesty is definitely NOT the best policy which is why there are so many 'accidental landlords'; who have made the same determination as I suggest you probably should.
You could easily stitch yourself up if you are completely honest.
Only you can decide how you wish to manage things.
Remember banks don't care about you and any losses that may be caused by your honesty!!
The less they know; the less they can do against you.
Economy with the truth could be very useful for your situation as it is for many hundreds of thousands of other A LL
Clearly NO bona fide advisor would state what I have; they could not do so as they would be out of a job!!
Mine is an opinion which is technically a breach of conditions;
Others may have valid opinions to counter mine; equally as valid but riskier for you; depends whether you want to risk losing the property.
Have you ALWAYS told the truth and if not has that benefited you!!??
Think along the same lines as this problem you have.

Mark, as I have stated before, but perhaps to a different website, I am not connected to them in any way, apart from having them deal with my houses, after I was stung badly by two different letting agents, here in Newark On Trent. I am a retired, disabled detective and had unfortunately not realised how dishonest some letting agents were, but **MODERATATED** at Newark, rescued me! I do realise that I, of all people should have realised, but I was trying to recover from a bad car accident.

Reply to the comment left by "Matthew Dickinson" at "10/08/2013 - 10:24":

That's fine Matthew, however, 90% of your posts say exactly the same thing, i.e. they are all a testimonial for the same business. If every landlord added a testimonial to every thread for one of their preferred contacts or agents we would have a very boring forum. I reserve the right to recommend my own professional contacts as they also sponsor the forum and that's the only way it will continue to survive.

I don't mind occasional comments of this nature, for example, if somebody specifically asks a question such as "can somebody recommend a good letting agent in Newark on Trent please?" However, that's not the case here is it?
.

Mark, I was merely answering your query as to whether I was connected to the letting agent I mentioned or not, and I am not, but if I can be conned, then many other people surely can!

Reply to the comment left by "Matthew Dickinson" at "10/08/2013 - 11:15":

Matthew, if a judge has ruled that you have been conned I will be happy to carry a story to warn others. If not, please see >>> http://www.property118.com/what-property118-is-not/

I am certain there will be more than one ethical letting agent operating in your area, another example being LettingSupermarket.com who charge from just £14.99 + VAT pcm for the services identified here >>> http://www.property118.com/full-property-management-from-just-14-99-a-month/34413/

Please also note that LettingSupermarket.com donate £1,000 pcm to support Property118.
.

And may I tell you, perhaps not for the first time, that the worst offender was a letting agent branch owned by one of the Ombudsmen.

Mark, I will happily catch the train down to your office, with identification of my occupation, and you can interview me to ascertain whether I work for **MODERATED** in Newark, as you have my e.mail address , send me your details of either address or phone number, and something can be arranged. I am so keen that other people are not hoodwinked by the other, dishonest agents.

Reply to the comment left by "Matthew Dickinson" at "10/08/2013 - 13:31":

That's not the point Matthew.

Besides, I don't have an office and I have no reason to not believe what you are telling me. I have explained very clearly why your posts have been moderated.
.

I have noticed an absence of any response to your request for any other good letting agents in Newark On Trent.