BTL, letting to family member, problem?

jk1122

Hello all,

I'm hoping someone can give me so advice on the following:

If you have a property on a buy-to-let mortgage, is it ok to let the property to a close relative (e.g. sibling)? Would the lender have a problem with this/is it against the rules?

Thanks in advance and any help is much appreciated.

kingstreet

Are you applying for such a mortgage, or do you already have it?

If you are applying, you need to apply for a regulated BTL and this will be based on your income, not on the rent.

If it's an existing mortgage, you would have to ask your existing lender for its policy.