alisa Posted February 27, 2008 Report Share Posted February 27, 2008 Hi, Due to a recent change in circumstances, I would like move into one of my own BTL properties. I have a BTL mortgage on this property. Are the mortgage co likely to allow this? Do they need to know? Link to comment Share on other sites More sharing options...
Selkirk Posted February 27, 2008 Report Share Posted February 27, 2008 Hi Alisa You should really inform the mortgage company, they will allow this, ring them, however, they may charge an admin fee to change it from btl to residental. If you are on the lenders standard rate just remortgage to a deal and change it then. You will need to change the building insurance though. hope it helps cheers Link to comment Share on other sites More sharing options...
plym77 Posted February 28, 2008 Report Share Posted February 28, 2008 Hi Alisa Just from a tax perspective, do you own more than one PPR? If so, consider making an election to ensure that you get some PPR relief on the property for a future sale! Sherena Link to comment Share on other sites More sharing options...
alisa Posted February 28, 2008 Author Report Share Posted February 28, 2008 Thanks for the advice both of you - hadn't even thought of the tax angle. Whenever I mention the dreaded word "change" to the mortgage company I get the sharp intake of breath treatment, but I'll see what they say. Link to comment Share on other sites More sharing options...
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