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Multiple tenancies
northlondon2015
Posts: 3 Newbie
I am moving my house and planning to rent it out once I found a buy to let mortgage. However, my existing house has an interesting shape due to different ways of usage in the past. Basically, it has 2 double bed in the ground floor, bathroom, and toilet, and another 2 bed on the first floor, bathroom and toilet. I am sure one of the rooms in the first floor will be fine to have a small kitchen at a corner, then each will look like a double bed. Entrance can also be separated as ground floor using the garden entrance and first floor using the main entrance. So, I am looking to rent out separately, but not sure what buy to let mortgages think about this ? This option is definitely going to bring more rent at least 20% more than renting it out as one bug house. Does anybody know what mortgage companies normally think about this?
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Comments
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Not sure they need to know. You get a BTL mortgage that gives you consent to let your property.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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Would this perhaps count as a HMO meaning that it wouldn't be a BTL mortgage for either a licenced or un-licenced HMO rather than a straightforward BTL mortgage.0
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northlondon2015 wrote: »This option is definitely going to bring more rent at least 20% more than renting it out as one bug house.
If you're expecting humans to be the tenants then letting as a bug house is definitely a bad move :rotfl:0 -
sorry what you mean by bug house ? It can easily accommodate two house holds as 2 bed.0
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ok so, is this also a case for a residential? Does anybody have any idea how many years Halifax is happy to give consent to let for a residential mortgage as a max?0
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northlondon2015 wrote: »sorry what you mean by bug house ? It can easily accommodate two house holds as 2 bed.
Whoosh! :A0
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