I need to let out my property rather than sell to avoid early repayment charges on my mortgage,but am only allowed a standard let, not multiple occupancyQ I am a young professional earning £40000 a year. Two years ago I bought my first domestic for £167000 and establish down a 10% deposit. I spent probably more than thought I would because I was adamant that I wanted a house in one of the better areas of Birmingham. My mortgage is a five-year fixed-rate deal, and which costs £870 a month. Now my girlfriend has moved to London,I have decided to move there as well. However, I cannot sell my house in the first five years of my mortgage without incurring a early repayment charge of 5% of the value of the remaining loan.
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Source: theguardian.com