How soon can i ask permission from mortgage company to rent out my house?

I am in process of buying a house, my completion date will be somewhere 15th january so my mortgage will start from 15th, now i want to rent out the house(and not shift into it) and i need to get the permission from mortgage company for this, can i ask them now or only after my mortgage will start?How soon can i ask permission from mortgage company to rent out my house?
Occupancy is one of the major fraud issues in mortgage banking today. Specifically, people who finance the home as their primary residence (taking advantage of the lower rates, down payment requirements, etc...) and then never move into the home and rent it out instead.





If you have zero intentions of living in this home, and are taking out primary residence-type financing, this is fraud. Plain and simple. At closing, you will sign a legal affidavit swearing that it is your intention to move into the home within 60 days, and that it is your intent to occupy the home for at least 1 year. After that year is up, you can do whatever you want, no permission required.





If you close on this loan, there are a few things that can happen:





1. The bank, as part of their auditing and quality control, might pay someone to confirm that you live in the home. If they find that you have rented it to someone else, they have the right to foreclose, or raise your interest rate to what it should have been if it were an investment property and also require a down payment that would have been needed if it were an investment. If you can't come up with the money, you are foreclosed on.





2. They call the FBI and inform them of the fraud. You go to jail.





3. They never figure it out and you get really, really, really lucky.





This is a very bad idea. And if you call them the day after closing and ask if you can rent out the home, you'll definitely wind up in trouble.





Either cancel the purchase, or plan to move in, or tell your mortgage company you are planning to use it as an investment and take whatever financing you can get as an investment property (expect rates up to 1-2% higher, possibly a larger down payment requirement). Anything else could be setting yourself up for serious criminal trouble.How soon can i ask permission from mortgage company to rent out my house?
why do u need permission from mortgage company to rent out your house? is it a shared ownership property? or are you the sole proprieter? normally you wouldnt have to ask them





edit - ok looking at other answers the next question is what country are u based in? this obviously has bearing on what the legalities are in the uk as far as i aware u dont have to inform the mortgage company if u are renting your property out you are liable for the repayments on the mortgage not the tenant and there must have been enough equity in the property for them to consider the mortgage in the first place so this isnt an issue (ie u dont pay they seize ure house, sell it auction ect)
I don't think you need permission.
If you tell them now, it may complicate the loan process. Some mortgage companies have different interest rate for non owner occupied houses and different requirement for down payment. However, if you tell them right after the loan closing, they may say they won't allow it since somewhere in the paper you will be signing, it says YOU will be occupying the house. This is because mortgage companies consider non owner occupied houses having higher risk for default. You will typically need to sign a rider stating the house is non owner occupied. So, either way, you may face difficulties. Another option is not to tell them, which could cause problems if you ever fall behind your payment or the house get fire or flood damages. So, use your best judgment.
Why would you need permission? It is your house, I've never heard of asking a mortgage company if you can rent out your own house.