I need leasing of my house information please

footiefanian

hi guys

it's come to the point where me and my wife are having to move closer to where I work to save money on petrol/traveling in general

the situation is that we have an interest only mortgage which we have used to balance petrol expenses but also the house if we sold would be in negative equity for about 10k so we wondered if we leased the house to offset some of the mortgage payment well we rented in our new location

is this feasible? and are there any other issues we need to consider before doing this?

thanks for any help

Ian

Leon_W

As long as you get consent to let from your lender then you are good to go.

Lenders have different views on this so the only way to get a straight yes or no is to phone them.

footiefanian

thanks for the response

Thrugelmir

Could you afford both the mortgage and the rent if the property was unlet or the tenant failed to pay the rent ?

Even if you let the property. How are you going to clear the negative equity?