Hi All,
I am considering giving my house to the council on a long term lease. I am on a tracker mortgage. A requirement is to receive approval from my Lender confirming they are happy with same. Has anyone done this before? The concern is I will lose my tracker and be put on to a BTL rate as its technically a change of use. Should I just submit a request and hope for the best that the operations team will just approve it?
Any thoughts?
Thanks
I am considering giving my house to the council on a long term lease. I am on a tracker mortgage. A requirement is to receive approval from my Lender confirming they are happy with same. Has anyone done this before? The concern is I will lose my tracker and be put on to a BTL rate as its technically a change of use. Should I just submit a request and hope for the best that the operations team will just approve it?
Any thoughts?
Thanks