Accidental landlord

DawnW

Unlikely to be a millionaire with a 1 bed flat on a NR mortgage....

The OP did not state that she is on benefits, just that she is a HA tenant.

Fire_Fox

XXJULESXX wrote: »

Hi

In reply to an earlier post re:amount of rent charged - my partner is thinking along the lines of, as the rent his work mate will be paying will pay most of the (current) monthly mortgage - and thats CTax & utilities taken care of - he will have that extra money he can use for things like major repairs.

I am not sure if Scottish law is different on this, but it's not quite as straightforward as receiving the rent and using it to pay the mortgage/ repairs. Only the interest portion of the mortgage is tax-deductible, not any amount that might be paid off the capital. Also there are rules regarding the amount allowable for repairs/ wear and tear, which IIRC are different for the first and subsequent tenancies. Speak to the taxman about this or you could end up in bother.

tbs624

Jules - if you haven't already done so you and your partner should also check out the "Repairing Standard" as the property is in Scotland - see here

tbs624

GDB2222 wrote: »

It's normally an Assured Tenancy (not Shorthold), so yes.

Slight side issue but that's for E&W and some HAs *do* use ASTs

However, the OP is in Scotland - if it's an HA registered with the Scottish Housing Regulator then it will be either a Scottish Secure Tenancy (SST) or, more rarely, a Short Scottish Secure Tenancy (SSST). If it's a private sector HA then it may be either an Assured Tenancy or a Short Assured Tenancy.

XXJULESXX

Thanks again.

It is an assured tenancy. And there is no issue issue with him moving in, it doesn't affect it.
I work actually, for my local council in Revenues&benefits, so only benefits I receive are WTC and CTC which obviously will be affected when he moves in.
Still waiting for this pack from Northern rock to negotiate the mortgage before we can really go ahead with anything.
If NR didn't give permission to let out on his current tariff, am I right in thinking he then has to look elsewhere for a BTL one?