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Planning to have tenants to help pay the mortgage
ReallyPoorMan
Posts: 4 Newbie
I'm a first time buyer and current have my eyes on an ex-LA council flat in London. I know the area well and it's no problem getting tenants. I can still afford the mortgage if for some reason I can't get tenants.
Anyway, I plan to live in the flat but do I need to get a buy to let mortgage if I plan to house share? What other legal things should I also consider?
Anyway, I plan to live in the flat but do I need to get a buy to let mortgage if I plan to house share? What other legal things should I also consider?
0
Comments
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If you live in the flat and you have no other property with a mortgage on it then you can have a regular mortgage.
If you plan to share you should get a proper contract and ensure you have contents cover reflecting the fact that 3rd parties will be using the property.0 -
I've just read about the Rent a Room Scheme. Has anyone use this? Or is there really no benefit from it?0
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