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buying via RTA and renting out

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 :o

Comments

  • Yorkie1
    Yorkie1 Posts: 11,672 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    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.
  • No lender gives BTL products on RTB - they are extremely unlikely to give permission to let within first year or so (if ever).
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
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