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Renting out property purchased on shared equity
manners2210
Posts: 1 Newbie
Hi,
I purchased a Persimmon flat two years ago on a 75/25 shared equity basis. However my personal circumstances have now changed and I am looking to rent the property out. When I contacted Persimmon to get a consent to lease from them (requested by my 75% lender) they informed me that under the shared equity scheme I am not allowed to sub-let the flat and that it was common knowledge that these scheme's do not allow sub-letting?
Has anyone else encountered this? I specifically asked this of the sales agent at time of purchase because it was always my intention to rent it sometime in the future and was told it wasn't a problem.
Any advice would be gratefully received, thanks in advance
Brian
I purchased a Persimmon flat two years ago on a 75/25 shared equity basis. However my personal circumstances have now changed and I am looking to rent the property out. When I contacted Persimmon to get a consent to lease from them (requested by my 75% lender) they informed me that under the shared equity scheme I am not allowed to sub-let the flat and that it was common knowledge that these scheme's do not allow sub-letting?
Has anyone else encountered this? I specifically asked this of the sales agent at time of purchase because it was always my intention to rent it sometime in the future and was told it wasn't a problem.
Any advice would be gratefully received, thanks in advance
Brian
0
Comments
-
Yes this is correct. Under the shared equity scheme you are not allowed to sub-let the property.0
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