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Remus2004, Barrister
Category: Property Law
Satisfied Customers: 2456
Experience:  Over 5 years in practice.
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I have a mortgage which was originally in a property that

Customer Question

Hi I have a mortgage which was originally in a property that was used as hol lets in summer and res lets in winter . I have been doing only res lets for the last 30 months . Do I need mortgage companies permission to do res lets only ? Thank you
Submitted: 1 year ago.
Category: Property Law
Expert:  Ash replied 1 year ago.
Hello my name is ***** ***** I will help you.What do your mortgage terms say about the change of use and if you need to use as holiday/residential lets?
Customer: replied 1 year ago.
Hi I will have to check for specific terms and get back to you
Expert:  Ash replied 1 year ago.
Customer: replied 1 year ago.
hi, sorry for delay , I would like to change my question . after recent planning regs changes and successful application my buy to let property is now valued by a commercial estate agent at 375000 and is listed for sale at that, it was purchased in dec 2006 for 312k . my mortgage co are insisiting on working to a valuation that is 18 onths old and apparently done by someone who drive to my property , viewed it from the outside and did not speak to me about income or development potential , I did not ask for this or give permission as I was not asked and I was charged £200 onto my mortgage account . the value they came up with is £295000 or £250000 emergency sale . I would like to get a valuation done at my cost by someone who my mortgage lender acknowledges as a valuer and would like it one on a buy to let / commercial / semi commercial basis after discussing assessment criteria . I have made this request several times and I am just being ignored , no explanation no discussion its like I never mentioned it . are they obliged to get a valuation done if I am willing to pay ? can I pressure them using legal means ? should i ask them to arrange or flat out refuse and explain why ? any suggestion how to get a valuation they will acknowledge on record welcome
Expert:  Ash replied 1 year ago.
I understand that, but what do your mortgage terms say about changing it?
Customer: replied 1 year ago.
Changing what ? Sorry I have resolved the use of property question and asked anew one about valuation
Expert:  Ash replied 1 year ago.
What do the terms and conditions of the loans say about valuations and charges etc?