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Tommy I
23-02-2010, 11:02 AM
I brought a 3 bed end of terrace property and converted and extended under planning and building regs without the permission of my mortgage company the property is nearly finished now I have doubled the value of the property and the mortgage company are saying for me to convert back to a single residence obvisly this is not an option for me because i have invested all my money into it to develop. I have one flat pre sold to my brother in law which will reduce my mortgage with existing lender by nearly half but they are saying that i am in breach and they dont want to help. All of my money and family money is tied into the property and I have fell into arreas because of all my money being tied up there so my credit has suffered how can I refinance and who with?

jeffrey
23-02-2010, 11:55 AM
Er, why did you not obtain mortgagee's consent?

Tommy I
23-02-2010, 15:10 PM
I need some free advise aat the moment as things are very hard!

jeffrey
23-02-2010, 15:14 PM
I need some free adviCe at the moment as things are very hard!
Here's free advice- 129 posts on this very topic: http://www.landlordzone.co.uk/forums/showthread.php?t=1499&highlight=consent

Cipher
23-02-2010, 17:20 PM
Thanks jeffrey
Saved me doing a search :)...I was curious about getting consent.

bamboobuddha
23-02-2010, 20:07 PM
Thanks too.. A very good read..sorry for your problems Tommy I