 I need help with scaring the crap out of a real estate agent that is trying to entice me into mortgage fraud.? |
| This person is an acquaintance so I don't want to put any strain on my relationship with this person, so I need to do this in an "innocent" way so they don't realize that I know ... |
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 Would I qualify for a loan on a $525000 house.? |
| The Home appraised for $560000 and I realy want to buy it. My base salery is $60,000 and I will have roomates cover all but 1000 a month(based on a $3200 a month pmt). and i think my FICO score is ... |
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 Get away with Pet fee? |
| I am moving to a new apartment and I am getting a puppy as a gift from my husband. I found out that the pet fee is 250 and we do not have that money right away because we have to pay all the deposits ... |
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 I am considering selling my deceased mother's home to a "we buy houses for cash" company.? |
| The home is paid for but is in bad condition. It needs new ceilings, LOTS of work on the interior and exterior, paint inside and out...you name it. If nothing else, it could be torn down and ... |
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 I have purchased a home, I had my boyfriend's name put on the deed of the home, is he liable for the mortgage? |
Additional Details
His parents just recently found out and his father is an attorney, now everyone is worried that he has taken on a huge debt, but since the loan is in my name and he ... |
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 Need help understanding a specific question about the Sale of Real Estate.? |
| Scenario: The payoff balance on my home is approximately $120K. Can I sell my home for $100K? If so, what type of an arrangement is made to pay the remaining $20K to the mortgage company? Can the ... |
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 Any Realtors want to tackle this question? What are your thoughts on this situation? |
| I'm considering buying a commercial property in another state. It's a depressed, rural area with a charming "old town" area that is starting to make a comeback. There are ... |
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 How much would it cost to build a house using Illegal Immigrants? |
This is just a question out of curiosity. But how much would it cost(assuming you already have the land), to build a 3 bedroom house using illegal labor.
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Christ, the ... |
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 My husband and I are divorcing. I moved out of the house into an apt. My husband let a friend of his move in |
| Who was going to pay $600 a month toward the mortgage. The friend hasn't paid anything yet and has been living in my house for 3 months. Do I have the right to ask him to leave? There is no ... |
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 I have money for a down pymt on a home, but my credit is awful. Is there help for me? |
| I am in SC and need to purchase at least 3 acres and a home, but my credit is trashed. Are there people that will assist with getting approved for a home purchase?... |
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 If you live in a townhome, can you hear your neighbors? |
Additional Details
how bad is it? Don't most townhomes have a 4-ft firewall that dampens most noises?... |
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 How can I evict someone from my home who is threatening me? |
| So I live in Michigan and have owned my home for 11 years. Recently I rented out two rooms in my home to help with the bills. One of the roommates has only been here for a week and a half and ... |
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 Effect on judgment lien on my house? |
| I was involved in a car accident and at fault. The plaintiff is suing me and her claims are far over my policy limit. Obviously i do not have enough cash to pay her. I pay mortgages to the house that ... |
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 Can a landlord increase private sector rent by 75%? |
| Been living at same rented house for 13 years & have good relationship with landlord who has only increased rent twice over the years, by small amounts, now her money grabbing son has decided ... |
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 The house i was buying needed to many repairs, and now the owner doesnt want to give my escrow back.Any ideas? |
| I was purchasing a home, We set up the escrow on a good faith judgement. Our home inspector told US, that the repairs where major. The clause "was anything over 1000 dollars " We could back ... |
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devil_fish_2000_uk | Can I rent out my ex-council property without having a buy-to-let mortgage? |
I am about to buy the council property I live in. Does anyone know for certain, or have experience in buying a council property, and then renting it out? Also, so you know whether I would definitely need a buy-to-let mortgage to do so? And, could I rent to a relative?
Please let me know. |
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bob
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you have to have permission from your mortgage lender as technically, they own the house. theres no reason why you shouldn't rent to relatives as long as you have a formal tenancy agreement. |
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amsterdam
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Yes, once you own it you can rent it out, the restrictions are on selling it. You can rent it to who you like, you are the owner. You cannot sell within 3 years or you will have to pay back the discount you got - in other words, pay the full market price.
A buy to let mortgage is no different from any other mortgage - I had ordinary mortgages on all my letting properties - paid them off now, though. Go for it. |
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Bardic
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There may be a proviso in the purchase arrangements with your council which restricts what you can do with the property for a certain length of time afterwards - some councils do, some don't. I'd check with them if I were you.
Regarding the mortgage, most mortgage lenders are happy for you to rent out, providing there's a formal arrangement in place. Mind you, some lenders don't even notice that you are doing that, as long as the payments are kept up they're happy! |
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hunny buns
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Yes lots of people do but your not supposed to, when i bought my council property 1 year ago i got a mortgage which would let me rent out, and when i do it will be a case of paying £100 one off fee, u must let your insurance company know, as its not worth the hassle if anything were to go wrong, yes you can rent to relatives, and if you are on any benefits you may have to pay tax on the extra you make on what your mortgage payment was. you can rent but you can sell within a certain time mine is within 5 years, due to those greedy people who bought to sell asap! |
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Lenny
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No, you don't need a buy-to-let. Once you have a mortgage in place, the house is yours and you can do what you like with it. You don't have to tell them you're going to let it out. As long as you keep up the repayments, they really don't care.
You can sell when you like too. Rent to whoever you fancy. If you get a buy to let, your lender will need you to prove that you'll be able to get a rental return high enough to cover the mortgage. |
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remedioslabella
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Call your local council, They would tell you for sure.
Good luck |
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cuddlebear
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You would need to let your mortgage company know if you are renting out the property.
Ask your financial adviser (make sure he/she is independent, as this gives you more lenders to choose from) |
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locsman
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no you don't need a buy to let mortgage it should be no problem.as long as you make your lender aware of your intention to rent it out.they may charge you a small yearly fee.any insurers would also need to know.good luck |
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don't cut college funds
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Try inside track Google them. |
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