buying via RTA and renting out

bkk

I am eligible to purchase my housing association flat under the Right to Acquire scheme.

My question is: can i rent it out on the open market??

Or as a last resort, can i take in a paying lodger??

Thanks in advance

Yorkie1

In order to rent it out you will need a BTL mortgage. You would need to double check but I would be surprised if you could get a BTL on RTA - I'm sure you can't for RTB properties.

A lodger should be OK, I think but you'd need to double check the T&Cs.

You should note that income from lodgers will probably not be taken into account if you apply for a mortgage, if that is a relevant factor in you assessing affordability.

Senior_Paper_Monitor

No lender gives BTL products on RTB - they are extremely unlikely to give permission to let within first year or so (if ever).