Finding a lender who allows you to rent a room

jjlandlord

HappyMJ wrote: »

You aren't letting part of the property to a lodger so the correct answer is no.

Letting part of the property implies to me that you are giving them exclusive occupation of part of the mortgaged property which you aren't. You have the right to enter a lodgers room at any time.

That's not true.
It depends on the agreement you have with your lodger: License or tenancy.

For lodgers, the wise thing to do is to only grant a license, but again it is really up to both parties.

HappyMJ

jjlandlord wrote: »

That's not true.
It depends on the agreement you have with your lodger: License or tenancy.

For lodgers, the wise thing to do is to only grant a license, but again it is really up to both parties.

Would it be a licence. I've never had any contracts written down. The agreement has always been simply "pay me every Monday £x and if I accept your payment you can stay in my house for another week". That is the extent of my agreement. Nothing else.

nidO

As everyone has said above really.

If the question was "do you intend to let all or part of the property?" the correct answer is no, then when you have your mortgage and house sorted, you grant your lodger a license to occupy (which is the absolute norm for lodgers), not a tenancy.

Chelsea probably didn't even read the extra info you added, you ticked yes for intending to let out the property so they declined you.

tinkerbel

Thanks all, the woman on the phone was actually a little rude even when I explained about lodgers to her...

Trying a different lender Also I will look into the granting of a license to a lodger..!

theEnd

Also, avoid YBS. They didn't have a clue.

katejo

I have never had any problem with the lender. I am currently with Woolwich/Barclays. When I first declared the lodger to them, I was sent a form to complete. I looked at it and it was clearly meant for a tenancy not a lodger so I queried it. They had assumed I meant a letting. I didn't have to do anything else.