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  • FIRST POST
    • aayush
    • By aayush 16th Oct 16, 2:32 PM
    • 544Posts
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    aayush
    Question
    • #1
    • 16th Oct 16, 2:32 PM
    Question 16th Oct 16 at 2:32 PM
    HI I am Share holder of my flat where I pay rent and a mortgage can some pleas help and advise if I able to rent out my flat ?


    And do i need to advise any one if do do this ?
Page 1
    • Levs01
    • By Levs01 16th Oct 16, 2:43 PM
    • 224 Posts
    • 237 Thanks
    Levs01
    • #2
    • 16th Oct 16, 2:43 PM
    • #2
    • 16th Oct 16, 2:43 PM
    Pretty sure you can't as you need either a BTL mortgage or permission to let in a residential one and I don't think they would allow. I would imagine the rental part of you flat would have terms against subletting as well. I could be wrong though.
    • agrinnall
    • By agrinnall 16th Oct 16, 4:25 PM
    • 15,671 Posts
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    agrinnall
    • #3
    • 16th Oct 16, 4:25 PM
    • #3
    • 16th Oct 16, 4:25 PM
    I'd imagine that Levs01 is probably right but the definitive answer will be in the terms and conditions of your mortgage agreement, so I suggest you read them.
    • G_M
    • By G_M 16th Oct 16, 4:45 PM
    • 37,080 Posts
    • 41,030 Thanks
    G_M
    • #4
    • 16th Oct 16, 4:45 PM
    • #4
    • 16th Oct 16, 4:45 PM
    HI I am Share holder of my flat where I pay rent and a mortgage can some pleas help and advise if I able to rent out my flat ?


    And do i need to advise any one if do do this ?
    Originally posted by aayush
    * Which country?
    * do you own a lease?
    * if yes, what does it say? Have you read it?
    * do you mean you pay ground rent?
    * is it a BTL mortgage?

    Yes you would need to tell many people, and comply with many laws.

    Read:

    * New landlords: advice, information & links
    Last edited by G_M; 16-10-2016 at 6:15 PM.
    • Elfbert
    • By Elfbert 16th Oct 16, 5:30 PM
    • 449 Posts
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    Elfbert
    • #5
    • 16th Oct 16, 5:30 PM
    • #5
    • 16th Oct 16, 5:30 PM
    I'm going to guess you might mean you have a shared ownership flat?

    If so, it's vanishingly unlikely that you'll be allowed to rent it out. HAs are usually dead against this.

    Whatever the circumstances, read your lease, and your mortgage agreement. You will find the answer.
    Mortgage - £68,000 may 2014 46,800.
    • cjdavies
    • By cjdavies 16th Oct 16, 6:05 PM
    • 1,728 Posts
    • 1,411 Thanks
    cjdavies
    • #6
    • 16th Oct 16, 6:05 PM
    • #6
    • 16th Oct 16, 6:05 PM
    And do i need to advise any one if do do this ?
    Originally posted by aayush
    Reading this alone, I highly suggest for the sake of future tenents and yourself, research on what laws youmust follow and the rights of the tenent.
    • G_M
    • By G_M 16th Oct 16, 6:17 PM
    • 37,080 Posts
    • 41,030 Thanks
    G_M
    • #7
    • 16th Oct 16, 6:17 PM
    • #7
    • 16th Oct 16, 6:17 PM
    I'm going to guess you might mean you have a shared ownership flat?
    Originally posted by Elfbert
    Good point. Maybe.

    I'd guessed a lease + share of freehold.

    But we're just guessing.
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