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Can you rent out a home bought with a Help to Buy ISA/Lifetime ISA?

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This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.




Please click 'post reply' to discuss below.

Comments

  • LL151
    LL151 Posts: 1 Newbie
    if you use the help to buy isa to buy your home, would you also be allowed to take in a lodger from the outset, through the rent -a-room scheme or similar- or would similar rule apply only in the case of a change of circumstance?
  • My wife and I have a family home in the West Midlands that we bought just over two years ago on the HTB equity scheme.
    Our circumstances have changed quite significantly since we moved in - we have just had our first child, my wife is planning to be on maternity leave for one and a half years and parents have retired.
    Due to these circumstances we are planning to move back to live with my parents in the East Midlands and would like to put our property in the West Midlands up to rent.
    Based on this thread, I would like some advice on:
    - Are we allowed to do this under the HTB scheme? It would appear on Martin's thread that the change in circumstances is a good enough reason to place the house on to rent temporarily.
    - Who do I need to notify of these change of circumstances and placing the house to rent?
    - What are the risks?
  • Hi @pruteh

    Did you find any more information about this what to do if there are changes in circumstance if you bought using a HTB Equity Loan? I have a job offer overseas for a few years and am unsure what I can do about my flat.

    Thanks,
  • DCFC79
    DCFC79 Posts: 40,641 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    natchai wrote: »
    Hi @pruteh

    Did you find any more information about this what to do if there are changes in circumstance if you bought using a HTB Equity Loan? I have a job offer overseas for a few years and am unsure what I can do about my flat.

    Thanks,


    I can't see pruteh replying since they haven't been back for over a year.


    There was a reply to your thread you started last month, have you read it ?
  • I have recently took out an residential mortgage on a property in Glasgow but I have a girlfriend in London and considering moving in with her is it possible to rent out my property.
  • Caz3121
    Caz3121 Posts: 15,837 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    kwizzy221 wrote: »
    I have recently took out an residential mortgage on a property in Glasgow but I have a girlfriend in London and considering moving in with her is it possible to rent out my property.
    you would need to speak to your mortgage lender who will either give consent to let (limited time usually) or have you change to a BTL mortgage (depending on your LTV you may need to add additional cash into) or decline.
    You would be best posting on the mortgages board
  • G_L
    G_L Posts: 1 Newbie
    First Post
    Lifetime ISA first time buyers. I'm in the armed forces, what are the rules on intending to live in the property? 
  • My boyfriend and I have both saved for a house deposit in separate LISAs. We are keen to get on the property market, but also want to live abroad for a few years in the future. You provided a scenario of moving abroad for a job and being able to rent a LISA funded property out, but what if you took a sabbatical and weren't moving abroad for employment?
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