[Ryan, Rachel & Beth]

Originally Posted by bobbinational

I contacted Abbey about this as selling my house looks like it could be a struggle, they wrote to me and said that the conditions of the mortgage say they COULD cancel my fixed rate and swap it for a Buy To Let mortgage (costing early repayment fee etc) but because I am an existing customer they would allow me to rent out the property and just charge me an admin fee of £195. So it would be worth you checking as they might not be as harsh as you think.....

This is such an interesting topic, I hope there will be more posts on it.

I work as an Estate Agent and although I'm confident that we would achieve a buyer on our property we have decided to rent our property for the first year at least. We were bargaining on changing our current re-payment mortgage (which is also with Abbey) to an interest only mortgage and therefore the rental income for the first year will more than cover our mortgage (luckily we have a small mortgage.) I wondered if anyone knew would we have to declare we are renting out our property just incase the mortgage lender insists on a buy to let mortgage or something went wrong with the tenant?

I imagine we are all feeling the strain, with the property market not being as strong and the exchange rate so low it is much more of a serious factor in knowing what to do 'financially' for the best.

Look forward to hearing some more replies, Rachel x