Asked by Nic Harley
Hi, I live in the UK and has a property that I am currently renting out. I have not informed my mortgage lender. I have been sent a letter from my mortgage lender at my new address and they have recieved returned mail and have managed to get my address from someone. they want to know whats going on. I am really worried now as have been reading that there can be a penalty and im in breach of my aggreement. they may also ask for the monies back in full. has this happened to anyone or does anyone know what is likely to happen. I also must add that before I rented out I did ask for permission from my lender but they could only aggree to this if I paid them a lump sum to move to a buy to let mortgage and I did not have the cash.
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