Buy To Let Mortgage

[ilovemarkb]

we,ve got just over 5-6 years left on our mortgage. Looking at the pros and cons of "selling" "renting" etc. If I wanted to rent my house out is it complicated and expensive getting a buy to let mortgage and is it a legal requirement?

[Maggoty]

In essence no. My mortgage provider just needed to be told - they were happy I was keeping it with them, my mum's however did change the rate on her mortgage to that of a BTL. In our situation it was easier to rent the house out than sell. We are actually better off renting ours and renting somewhere else. I now have time to look around and think about buying another house tor eplace the one I'm renting to live in.

the Ins co's were OK too about changing the policy to a Landlords ins.

x

[ilovemarkb]

thats interesting thanks for that!!

[bob561941]

You need to be very careful who you select as a tenant it's not a bed of roses I have rented houses in the past but wouldn't do in today's circumstances you need a court order to get vacant possesion for non payment of rent and that can take a long time plus a tenant could trash the place before finally leaving.