Halifax- unfair terms for consenting to sublet?

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  • jeffrey
    replied
    Originally posted by silvercar View Post
    Letting a property that was once your residential home would be a breach of your mortgage terms and conditions.

    I can't see the fraud which, as far as I understood, would mean obtaining money by deception ie obtaining the mortgage by claiming you were going to live there when in fact your intention was to let the property. As your application to obtain the mortgage was truthful, I don't see that you have committed the criminal offence of fraud.

    Breaching your mortgage terms and conditions would be a matter between you and your lender, not a criminal matter.
    I never alleged a criminal offence, punishable by fine/imprisonment. Fraud is also a tort (civil wrong), compensatable by damages.

    Leave a comment:


  • silvercar
    replied
    Originally posted by jeffrey View Post
    If I were in your shoes, rajeshk4u, I would never advise commission of:
    a. a breach of contract; nor
    b. fraud on the mortgagee.
    Letting a property that was once your residential home would be a breach of your mortgage terms and conditions.

    I can't see the fraud which, as far as I understood, would mean obtaining money by deception ie obtaining the mortgage by claiming you were going to live there when in fact your intention was to let the property. As your application to obtain the mortgage was truthful, I don't see that you have committed the criminal offence of fraud.

    Breaching your mortgage terms and conditions would be a matter between you and your lender, not a criminal matter.

    Leave a comment:


  • jeffrey
    replied
    Originally posted by rajeshk4u View Post
    I agree with you, but she has tried the honest approach. And the bank has tried to screw her. She will only get into trouble, if she can't repay the mortgage.

    Banks don't really care, so long as the mortgage is being paid (that is why I suggest get good tenants).

    I was in a similar situation and the bank gave me permission and no penalties... So her bank is being unfair...
    Remind me: how many rights do two wrongs make?

    Leave a comment:


  • rajeshk4u
    replied
    If I were in your shoes, rajeshk4u, I would never advise commission of:
    a. a breach of contract; nor
    b. fraud on the mortgagee.
    I agree with you, but she has tried the honest approach. And the bank has tried to screw her. She will only get into trouble, if she can't repay the mortgage.

    Banks don't really care, so long as the mortgage is being paid (that is why I suggest get good tenants).

    I was in a similar situation and the bank gave me permission and no penalties... So her bank is being unfair...

    Leave a comment:


  • jeffrey
    replied
    Originally posted by rajeshk4u View Post
    If I was in your shoes, I would rent out the flat and don't tell the bank.
    If I were in your shoes, rajeshk4u, I would never advise commission of:
    a. a breach of contract; nor
    b. fraud on the mortgagee.

    Leave a comment:


  • rajeshk4u
    replied
    If I was in your shoes, I would rent out the flat and don't tell the bank.

    However, make sure your buildings insurance covers you for renting out your property. Also, make sure you get good tenants, see references personaly. And find an agents that charges you on a monthly basis for managing the property rather then takes the money up front, otherwise they will not be motivated to finding you a good tenant.

    Leave a comment:


  • King_Maker
    replied
    The change to a BTL mortgage rate seems fair - but not the enforced redemption penalty.

    Leave a comment:


  • jeffrey
    replied
    Originally posted by Liose View Post
    Thanks for all responses everyone...but I am still no where near a solution and the Halifax can't be bothered to call me back!

    So, here I am - stuck.

    Can't move to a job I'd like to. If I sell I am in negative equity due to get out charges and I can't rent it through consent to let because i won't be able to afford the increased payments. They have me well and truly stuck!!

    Surely they'd rather I continue with the mortgage payments as they are? I'm not happy with the Halifax and I'll certainly be moving all business from them when I am "free" to.
    Post #5 sumarises the position. There is no easy solution, nor (sadly) is there forced to be one.
    If Halifax refuses to reply, demand its Complaints Procedure and, thereafter, try the Banking Ombudsman to which scheme it subscibes.

    Leave a comment:


  • Liose
    replied
    Thanks for all responses everyone...but I am still no where near a solution and the Halifax can't be bothered to call me back!

    So, here I am - stuck.

    Can't move to a job I'd like to. If I sell I am in negative equity due to get out charges and I can't rent it through consent to let because i won't be able to afford the increased payments. They have me well and truly stuck!!

    Surely they'd rather I continue with the mortgage payments as they are? I'm not happy with the Halifax and I'll certainly be moving all business from them when I am "free" to.

    Leave a comment:


  • kayak
    replied
    Originally posted by Planner View Post
    Dont know if youve noticed but by renting your house out for £700 a month you will likley to go over your personal allowance for this year and be liable for income tax here in the UK.
    Doesn't this depend on your outgoings in terms of mortgage, fees, wear and tear etc?

    Kind regards,

    John

    Leave a comment:


  • justaboutsane
    replied
    Ignore starlettings ... he is a starpratt!

    Leave a comment:


  • davedarave01uk
    replied
    Originally posted by starlettings View Post
    No i am not mad. The sites are....guess you a a nigerian scammer.
    Lol what an idiot.
    There uk sites helping people out with all sorts of problems though mainly reclaiming bank charges.

    I suggest you update your computer with better software if you cant access uk sites.
    Oh and my name is dave and I live in the uk and Im English born and bred
    So get your facts right before spouting out rubbish

    The sites are fine but you've got http twice on one of the links - just needs deleting.
    I cannot edit the post so cannot remove the extra 'http'

    Leave a comment:


  • gdturn
    replied
    The sites are fine but you've got http twice on one of the links - just needs deleting.

    Leave a comment:


  • Planner
    replied
    Dont know if youve noticed but by renting your house out for £700 a month you will likley to go over your personal allowance for this year and be liable for income tax here in the UK.

    Leave a comment:


  • starlettings
    replied
    Originally posted by davedarave01uk View Post
    Are you mad or something there is nothing wrong with the sites above and my Firewall is ok.
    You probably have a virus or something on your comp if your going to sites like that and its stopping you from seeing them.

    Both sites have alot of help and free advice from people in the know and have been running for awhile now and have aload of members
    Probably more members on one of those sites than here.
    No i am not mad. The sites are....guess you a a nigerian scammer.

    Leave a comment:

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