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My first house - can I let spare room to a friend on a residential mortgage?
CatFlap1_2
Posts: 30 Forumite
Hello all,
Super site, so much to learn from these feeds!
I have seen plenty of controversial discussions on letting a property out on a residential mortgage whilst NOT living at the property.
- What about this scenario -
I am buying a house, FTBuyer and I can afford the mortgage repayments but it would be alot easier with some help!
Can I let spare rooms to a friend on a residential mortgage? While I live at the property ...Splitting the bills and charge low rent to keep things ticking over?
Thanks any constructive advice would be really helpful
Super site, so much to learn from these feeds!
I have seen plenty of controversial discussions on letting a property out on a residential mortgage whilst NOT living at the property.
- What about this scenario -
I am buying a house, FTBuyer and I can afford the mortgage repayments but it would be alot easier with some help!
Can I let spare rooms to a friend on a residential mortgage? While I live at the property ...Splitting the bills and charge low rent to keep things ticking over?
Thanks any constructive advice would be really helpful
0
Comments
-
Some info on the tax position of householder with the Rent a Room Scheme -
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/Taxes/TaxOnPropertyAndRentalIncome/DG_4017804
"If you're a mortgage payer it's best to check whether taking in a lodger is within your mortgage lender's and insurer's terms and conditions."0 -
That' s a good link thanks.
Can I rent to more than one friend on the rent a room scheme?0
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