Shared Equity Mortgage Question

StanVanDamn

Hi everyone,

Does anyone know of shared equity mortgage firms who will give permission to let from the offset

I dont mean a buy to let mortgage - I currently have Halifax providing me with permission to let on shared equity but look to see if any other products out there with better rates

Thanks

Gary123456790

Hi,

Shared equity or not, getting permission to let on a residential mortgage is for unintentional landlords. It can be withdrawn at any time by the mortgage company, and you would be required to move to a BTL mortgage.

You are effectively benefiting from using a cheap residential mortgage instead of a more expensive btl mortgage. If you want to go straight on to a residential mortgage with CTL you are not an unintentional landlord as you know you are going to do this, so your only option if you want to move the mortgage is a BTL.

Hence you cant really compare rates because the idea is that neither you nor the lender intend for you to do what you're doing and its generally only a temporary measure (of course some people are on CTL for many years but this can be ended at any point).

As they say, you cant have your cake and eat it.

Gary.

StanVanDamn

I understand Gary and I guess thats fair enough. Thanks for the advice