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Hi i've just bought a property recently and i'm thinking of letting it out . I have a few questions and hope that some of you can help.

1. It is a residential mortgage that I have, would I have to inform the mortgage company of my intention to let and is there a charge for this?

2. If I don't inform the mortgage company and let it anyway would my insurance become invalid? Say for instance that i change the insurance to cover the tenant would the insurance still be valid if the mortgage company wasn't informed?

3. I've managed to download the AST agreement on here but I haven't been able to find the inventory report on here that I've read on other forums which say you can download from this site.

Any help would be much appreciated thanks.

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Hi Cas,

If you are going to let your property then you must inform your bank / building society who will either give you "permission to let" or will insist that you transfer your residential mortgage onto a "buy to let" product. Any mortgage interest you pay is, of course, tax deductable against any rent that you earn.

If you don't inform the mortgage company then you are potentially creating lots of problems for yourself (and possibly your tenant). To start with ... you would be in breach of contract with the bank / building society and they could terminate your mortgage and, if you could not pay the money back, then evict the tenant and repossess.

I would guess that your standard residential insurances (for bullding and contents) would also be invalid if you failed to disclose that you were going to rent the property.

In summary - if you are thinking of becoming a landlord - don't cut corners - don't penny pinch - don't put your head in the sand - just do it properly.

Good luck,


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