Saw someone post this comment on faceache and since this forum is such a wealth of knowledge I thought I’d see what others opinions are (or even if they are clued up enough to know the actual answer)
If someone has a mortgage and is a tramper and only spending 8 days a month in their house, is that actually allowed? Doesnt the mortgage company stipulate you need to live in it for X amount of months of the year?
Even if thats the case and its (for example) 3 months minimum, wouldn’t they see that as 3 full calendar months and not an accumulation of 3 months worth of days added up?
Not an important question I grant you but as I said, I saw it and it did make me wonder where you would stand if you were a single guy tramping and your mortgage company found out you technically lived in a DAF and only came back to the house at weekends
As your house would be your main residence , it should not be a issue . Insurers might void you policy if it was unoccupied for more than 30 consecutive days ,
The house might be in more danger of sharp eyed squatters being regularly empty, that might be of concern to the mortgage lender.
I’d also check carefully the wording of the house insurance, usually combined buildings and contents cover these days, see if there’s a total annual number of days for the house being uninhabited as against extended vacancy.
From a practical view i would get a proper remote monitored burglar alarm installed by professionals, you won’t believe the peace of mind this brings with it, and if you have a roof space water tank to make sure it and the pipework are really well insulated, or you leave the central heating ticking over during the winter and remember to cut the water off, my elderly neighbour with attic tank went away on a cruise during a bitterly cold February without leaving some heat on or turning the stop ■■■■ off, and returned to a waterfall with several inches of standing water in her bungalow the ceilings collapsed and everything ruined.
More practically, it would make better sense for our single tramper to rent the house out and buy a cheap motorhome to rest his head in for the 8 days a month he’s home.
The-Snowman:
Saw someone post this comment on faceache and since this forum is such a wealth of knowledge I thought I’d see what others opinions are (or even if they are clued up enough to know the actual answer)
If someone has a mortgage and is a tramper and only spending 8 days a month in their house, is that actually allowed? Doesnt the mortgage company stipulate you need to live in it for X amount of months of the year?
Even if thats the case and its (for example) 3 months minimum, wouldn’t they see that as 3 full calendar months and not an accumulation of 3 months worth of days added up?
Not an important question I grant you but as I said, I saw it and it did make me wonder where you would stand if you were a single guy tramping and your mortgage company found out you technically lived in a DAF and only came back to the house at weekends
Think you will find its away for a continuous 3 months,lets say away in the sun for the winter Oct/Nov until March. Many of my “winter Friends” return home for Xmas and go back for New Year therefore complying with their home insurance
Juddian:
More practically, it would make better sense for our single tramper to rent the house out and buy a cheap motorhome to rest his head in for the 8 days a month he’s home.
Might be more practical - but almost certain to be disallowed under the terms of his mortgage (unless it is a “buy to let” one).
Some Landlords and councils who manage social housing do stipulate that the home should be your main residence and that you should reside there and not leave the property vacant for more than a few weeks
peirre:
Some Landlords and councils who manage social housing do stipulate that the home should be your main residence and that you should reside there and not leave the property vacant for more than a few weeks
But the original query was about a mortgaged, not rented property?