buy to let mortgage arrears and charges

M

missangry

Guest
My partner and i have a few buy to let properties which we have had for a good few years and unfortunately due to a number of bad incidents fell in arrears with said properties. After a lot of hard work and sleepless nights we have managed to bring them up to date and there are no outstanding debts on them, but, the lending company are now saying they are going to have valuation surveys done on them (none are up for sale) at a cost of £300 per property, the reason given they said was for future reference so they know how much they are worth, and to add insult to injury this cost is being added to the mortgage (4 properties) can they do this? surely this is not right...
 
Is this a UK based query? If so then just to point out that this is an Irish site dealing primarily with Irish consumer finance and related issues. Having said that whether the lender has a right to insist on such surveys - and more to the point, you footing the bill - may depend on the nature of your loan agreement(s) or other contracts with them.
 
Back
Top