Sorting out the house after seperation

Posted on 19 October 2008

Hi

 

Myself & my partner took out a 30 year mortgage with 5 year fixed rate exactly 2 years ago. We have now decided to split up and would obviously incur charges to change mortgages and the house is in negative equity we were thinking of renting our house out so it would at least pay most of the mortgage until the fixed rate ends. Would we be able to do this or do we need to change to a buy to let mortgage and probably incur charges..??

 

Hi Paul

Some lenders will grant permission to let without any real change to your current mortgage, however not all.  You would need to call your mortgage provider and ask what their policy was it you were to let your property.  Sorry I can’t be of any more help but without knowing who your lender is it is hard to provide you with further information.

Good luck!

 

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