Q&A

Answer a question


09 September 2009

I am living in a property that I have a buy to let mortgage on - do I tell my mortgage provider or keep quiet?

I have a Birmingham Midshires buy-to-let fixed-rate mortgage on which the fixed term ends in November. I let the flat out for a year and a half (hence buy-to-let mortgage) but I am living in it again now. When my fixed term ends, the mortgage goes to 2% above base rate which will be significant saving on the 5.5% I pay now. My question is: Should I tell my mortgage provider that I am living in the flat and possibly have to change products or just let the rate I pay get lower in November? I am self-employed so I am conscious that it might be tricky to get a good mortgage deal if I have to change products. Thanks!

  • REPORT This comment has been reported.

4 Answers

Answers

Be the first to answer

Do you want to answer this question? You need to be signed in for this feature

Answer a question

Be the first to ask a question

  • {{ question.title }}

    {{ question.authorName }} On

    {{ question.answerCount }} Answers

Copyright © lovemoney.com All rights reserved.

 

loveMONEY.com is a company registered in England & Wales (Company Number: 7406028) with its registered address at First Floor Ridgeland House, 15 Carfax, Horsham, West Sussex, RH12 1DY, United Kingdom.


Our company maintains relationships with various affiliates and lenders, which we may promote within our editorial content in emails and on featured partner pages through affiliate links. Please note, that we may receive commission payments from some of the product and service providers featured on our website. In line with Consumer Duty regulations, we assess our partners to ensure they offer fair value, are transparent, and cater to the needs of all customers, including vulnerable groups. We continuously review our practices to ensure compliance with these standards.


While we make every effort to ensure the accuracy and currency of our editorial content, users should independently verify information with their chosen product or service provider. This can be done by reviewing the product landing page information and the terms and conditions associated with the product. If you are uncertain whether a product is suitable, we strongly recommend seeking advice from a regulated independent financial advisor before applying for the products.