Tracker rate on rental property

J

JDQ0604

Registered User
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Hi, my brother rented his place out and stopped the TRS with revenue, didn't say anything to the bank and his mortgage statement was returned with a different address scribbled on the envelope by the tenant. He has now been sent a form to fill in asking if it's a rental property etc. This happen to anyone else out there? If so whathappened? Did you lose your tracker or what happened? It's UB by the way..
 
I received a letter from UB asking if a property I had was PPR or Rental. It stated on the letter that my response would not negatively affect my mortgage repayments.

I never responded to them.

I have never heard of a tracker being taken away on the basis of a house moving from PPR to Rental. Unless it specifies on the letter of offer and/ or contract that the tracker only applies to a PPR I don't see how the tracker could be taken.
 
I responded to UB about a year ago confirming the switch from residential- to let- property.

(I also had email from UB a year or two prior confirming if there was a switch, it wouldn't matter. But I haven't had to use it/produce it)
 
I received one of these letters from BofI never replied, never heard anything further. Several years ago now.

As an aside, it was a bit unreasonable of the tenant, if they could have readdressed to you.
 
They are withholding his statement until he sends back address confirmation (tenant put incorrect address on the letter in error) and whether it's ppr or rented. Surely he will need the statement at some point? What about when he has to do his tax return?
 
cremeegg said:
As an aside, it was a bit unreasonable of the tenant, if they could have readdressed to you.
Click to expand...

A bank letter, just flicked back to the postman.
Why not give it to you or your property manager?
 
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