House with GrannyAnnexe

Ditch_Crawler

Just suppose I have a house with a Granny 'Annexe' which is actually a self-contained 'apartment', completely within the house and consisting of lounge, bedroom and ensuite bathroom. Until Granny died, the front door, the gardens and the kitchen were shared between Granny and (single) Grandchild (that's me, and I am sole owner of the house).

Just suppose that after Granny died, I took a lodger (with the full knowledge and approval of the mortgagor, insurance company and council etc) who moved into Granny's apartment and paid me £500 a month for the pleasure (including all bills, use of front door, kitchen and garden etc etc - we cut a corner on the TV licence, though, but please don't tell them...).

Just suppose that the said lodger would like to buy the whole place (at a very favourable price, it must be said...), and move into the main part of the house, whilst renting out the Granny 'Annexe' to person or persons as yet unknown.

To what extent would a mortgage company like or dislike the arrangement, and to what extent would they allow for the fact that the rent of £500pcm would account for a very significant part of the monthly mortgage repayment?

Ditch x

Conrad

C&G can consider lodgers and lodger income last time I checked.