Help to buy mortgage- Renting out

gemma2999

Hi,

I understand that you can not purchase a buy to let property with a Help to Buy mortgage/ISA.
But can you rent it out after you have lived in the property for a certain period of time?
I intend to buy a small flat as my first home, but would ideally like the option to hold on to the flat as a rental property once I move on to a larger home in say 5years time. Is this possible if I use help to buy?

Thanks

Thrugelmir

If you are intending to reside elsewhere on a permanent basis. Then you'll need to switch to a suitable mortgage product.

marksoton

https://www.helptobuy.gov.uk/help-to-buy-isa/how-does-it-work/

https://www.helptobuy.gov.uk/mortgage-guarantee/how-does-it-work/

Time for some reading. You need to understand the full terms of each aside from any potential BTL in the future.

MortgageMamma

Think carefully and get some professional advice if you intend to become a landlady in the future, there are lots of changes being brought in and proposed regarding buy to let taxation and how affordability may be calculated to get a buy to let mortgage.

Throwing a help to buy property into the mix will give you another set of issues to think about.

Probably best to take some professional advice now but bear in mind, since its at an unknown future date that you will rent the property out, any advice given now may not apply at that time. Try to keep abreast of changes, if you sign up for marketing from a pro active broker firm now it should help you keep up to date. Alternatively you can always ask on forums like this but remember to check opinion against facts before you act on it!

MM

amnblog

No you cannot let a property bought on the Help to Buy Scheme (apart from a few isolated exceptions such as armed forces personnel serving overseas)