Want to rent my house out but ….

lanmonkey

I have a mortgage with Barclays that has 2 years 9 months and £16.5k remaining before it’s fully paid off. It’s fixed repayment mortgage and not buy to let. For the last several years my goal was to pay off the mortgage and then rent my house out when I own it outright and I have renovated it with this in mind. I have recently met a new partner and it is looking increasingly likely that I will be moving in with them sometime over the next few months. What can I do with my house when this happens? I don’t want to leave it empty for the next 2 years and I don’t really want to sell it. Ideally I would like to start renting it out ASAP out but I think this would be in breach the terms of my mortgage.

What options do I have?

Any suggestions welcome

PaulC5

Ask your lender for consent to let

lanmonkey

PaulC5 wrote: »

Ask your lender for consent to let

Will that increase my payments?

PaulC5

I dont know about Barclays but ive just asked mine (NatWest) and they said there is a one off admin fee of £100 but I am free to let out when ever I want as many times as I want and il stay on residential rates even after my fixed rate ends I dont need to switch to a buy to let mortgage.

Your just a phone call away, its only an enquiry.

lanmonkey

Thanks Paul. That was very helpful. I'll give Barclays a ring