Mortgage clause

[jchapman]

in my terms and conditions of my mortgage it states that i can not rent to any one who is recieving DSS benefits . If i ignore this will they find out and if so what action will they take . At the end of the day if the mortgage is paid and in full where is the problem?

[Trenners]

Hi Johnboy,

If the clause is in the terms of the mortgage then I would strongly advise that you either change mortgages or do not let to DSS tenants.

If the mortgage company found out that you were letting to DSS then they may decide to foreclose on the mortgage and repossess your property.

If you were going to let to DSS tenants you shouldn't have chosen that mortgage company .....

Mark

[F-Prop]

All it takes is for the council to stop paying for any reason and believe me they have many reasons to stop paying then the rent stops, then mortgages doesn't get paid, then the mortgage company starts asking questions, then it all comes out in the open and you're in deep do-do!

I wouldn't risk it if I were you!

Trevor.

[Eastern Landlords]

in my terms and conditions of my mortgage it states that i can not rent to any one who is recieving DSS benefits . If i ignore this will they find out and if so what action will they take . At the end of the day if the mortgage is paid and in full where is the problem?

Look carefully at that wording - it may prohibit DSS referrals which is completely different because you would then not have a contract with the tenant. That's what they seek to avoid because it is then more difficult to remaove said tenant. DSS referrals occur when you let the councils have nomination rights to put in who they wish.