Should i really rent out my property secretly without telling my bank or mortgage lender? I know there are a few blogs out there saying to rent it out the banks will never notice or even care along as the get their money. But that is extremely wrong!
Do not rent out a home without telling your bank or mortgage broker because if you don’t you will probably end up in court. For your sake do not rent out one of your properties without telling anyone, because if you do you will get a not very nice visit from the police and you will be blacklisted from pretty much every single bank and solicitor in the country and they will probably demand their money with in a week and you will be unable to secure a mortgage or lend any money any where in the whole country! Also if you house has a serious accident, say it burns down you could find your self in an argument with your insurance company because they will not pay up because they believe you are fraudsters!
If your bank or mortgage broker find out you have rented out your property they will literally take your house of you, because if they do find out they can change the terms of your mortgage and take your home away from your so for intent and purpose you will be homeless, so do not think you will get away with it because chances are you will be caught. Do not risk your chances in UK property investment . Do not do his even if you have BMV Properties.