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Renting out my apartment
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I certainly understand neither of you wishing to burn your bridges by selling in case living together doesn't work out. It seems sensible to me. What you are looking for from your mortgage company is 'consent to lease' which is different from changing your residential mortgage to a 'buy to let'.
There are different people you need to get permission from or inform when letting your property. The mortgage company, housing association that owns the other portion of your property and the freeholder of the flat can all prevent you from letting. If going ahead you should inform the building's insurer as it could be invalidated otherwise, the HMRC as you will need to declare that you have 'property income' and probably the council with regards to council tax.
With shared ownership it is unlikely you will be able to let, although it's always worth asking. I currently live in a block of flats that are shared ownership and some of the owners have let out their proerties much to others annoyance. I'm not really sure what the penalty is should they get caught but the housing association really don't seem to care.Don't listen to me, I'm no expert!0
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