lodger and mortgage

Tumtitums

im thinking of taking a lodger into my flat . Will the mortgage company (Bank of ireland) have a problem with this. I was thinking of doing this for maybe 3 months
I have tried phoning but they are shut today

pmlindyloo

Have a read of this:

http://www.adviceguide.org.uk/england/housing_e/housing_renting_a_home_e/housing_subletting_and_lodging_e/housing_lodging_e/lodging.htm

Tumtitums

can anyone else share their experience

katejo

I have lodgers and my mortgage lender doesn't object but I can't comment on Bank of Ireland. Remember to check with your insurer too as some don't allow it.

G_M

No need to inform the mortgage lender. They only care in a situation where the occupant gains rights to the property eg as a tenant.

Your insuranc, however, should be checked.

See also

LODGERS (Licencees/Excluded Occupiers)
A lodger (broadly) lives in the same property with their resident landlord, and shares facilities. Unlike tenants, lodgers have few rights.

The Housing Act 1988 provides definitions of 'Resident Landlord' and 'same property' (S31 & Schedule 1 (10).

There is advice for landlords considering taking in lodgers here:

LodgerLandlord (General information site)

Landlordzone (General advice on taking in lodgers)

Renting out rooms in your home (Government info)

Rent a Room Scheme (Government scheme for tax-free income from lodgers)

21 tips (Tessa Shepperson's Lodger Landlord website)

w00519772

i recently had a mortgage approved with the post office (underwritten by bank of Ireland). I asked this very question to the advisor and i was told that it was not necessary to inform them. Consent to let allows you to take in a lodger whilst paying your residential mortgage ie none buy to let.

AFK_Matrix

I have a lodger and I am with Bank of Ireland, they too said I didn't need to contact them about it but as I had can I fill out this form with the lodgers details and then send it back that was it.