Mortgage lenders responsibility towards their borrowers being bad neighbours?

[avrilbsimpso]

What are the responsibilities of a morgage borrower to the lenders neighbour when the neighbour is noisey?

[CheekyChops]

They don't have any responsibility. They don't ask on the mortgage application whether you are likely to be noisy or not and even if they did, would people honestly say yes?

[joko]

whats it got to do with them?

i cannot believe you thinks it their issue!

mortage lenders provide finance, nothing more

[Oneeyedvic]

In the same way that Hire purchase companies are not responsible for their customer's actions in a car

and a loan company is not responsible for the way that a person behaves on holiday

A mortgage company is not responsible for the behaviour of the borrowers.

[NORMANTHEDOG]

surely you arent that thick

[avrilbsimpso]

The mortgage provider is co-owner and agrees as such to the terms of the deeds. Which in this case specify that a neighbour must not create disturbance or annoyance to neighbouring properties.
In many cases the morgage company ownes the greater part. Therefore is someone they lend to defies contract surely they have a right to retract the loan. Or the neighbours have a right to contact the lender to point out that this is the case?

[redcrx]

is it a leasehold property? I have had reason to request managemt funds direct from mortgage company for a flat that wasnt paying. The mortgage company stepped in then, purely because if the terms of lease are broken then the lease would be revoked and in theory the property repossessed by the landlord.

[Loosehead]

The lender does not own a brick, they have a charge on the property until a loan is paid, that's it, the lender has no respnsibility for the owner of the property. Deeds are irrelevant in most cases these days and serve as a quaint reminder of the past.

Or are you talking about some sort of part ownership scheme?

[Oneeyedvic]

The mortgage company is not a co-owner - it simply has a legal charge over the property which is owned by the owners.

The deeds may have restrictions on (such as building extensions, walls or in your case a care of duty to the neighbours) however this is nothing to do with the lender - just as if you were to build an extension you do not need permission from the lenders.

I am assuming that you have an issue with your neighbours regarding their noisy behaviour.

I would inform the Environmental Health at your local council and keep a diary as to when the problems are occurring.

[avrilbsimpso]

The property is freehold and only 8 years old. Recently I read a case whereby a neighbour made excessive noise and consequently the property was unable to sell when marketed. The neighbour was found guilty of devaluing the house and as a result the court found in favour of the victim and awarded damages of 20 per cent of the property value payable by the noisey neighbours!

[flyciderman]

And the lender was not involved as they have a charge over the property but not ownership

[factor-fiction]

When you said 'lender ' did you mean 'borrower', and when you say 'borrower' do you mean 'lender'?