Q: Hi All
Hope anyone can help !
I am just about to let my property out to a Tennant, I have my mortgage company advsied this situation as we have 2 years fixed rate with them, I then received a letter that some of the following:

The Mortgage garnted was on the basis that you no longer occupies the property.If you occupy the property included the fixed rate may be withdrawn.
However as a valued customer we are delighted to continue your mortgage on the current basis, with a payment of a non refundable fee of ￡ 590

What on earth are they paying the admin staff at this place? Certainly they make this slight change in my mortgage contract would not warrant them to the enormous amount of ￡ 590 admin fee to do? Ifelse this is pure profit for them, until the mortgage is paid, which overall is our responsibility why should it matter to them?
So sorry for the long thread, just need help regarding a letter to them or if someone knows, or the charge is about right and I should just pay up

Thanks
Jude

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A:The Mortgage was garnted on the basis that you occupied the property.If you no longer occupy the property, the fixed intrest rate may be withdrawn.
However as a valued customer we are happy to allow your mortgage to continue on the current basis, subject to a payment of a non-refundable fee of ￡590

I'd push them on the point of "MAY" be withdrawn without actually threatening to go elsewhere, sounds like they're just testing the water so to speak. Valued customer?

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