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Buying a house to let a friend live for free in

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Comments

  • The_Palmist
    The_Palmist Posts: 796 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Why don't you move in to a bigger place and let him live in the spare room.
    Nothing is more damaging to the adventurous spirit within a man than a secure future. - Alex Supertramp
  • 82much
    82much Posts: 396 Forumite
    Part of the Furniture Combo Breaker
    The_Palmist wrote: »
    Why don't you move in to a bigger place and let him live in the spare room.

    my thoughts exactly!
  • thor
    thor Posts: 5,519 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Don't forget that insurers will require you to get a tenancy agreement in place before they will cover the property even if no rent is being paid.
  • Hammyman
    Hammyman Posts: 9,913 Forumite
    rock007 wrote: »
    thanks for the replys and advice
    going to seek legal advice from a solicitor and maybe head down the private landlord route with low/non-existant rent

    Won't work. In order to do that you'd need a buy to let mortgage and that is based on rental income, not your income.
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