Which lenders are good for Consent-to-let & lodgers on residential mortgage?

bobthemoggie

Hi

I am buying a leasehold flat on residential mortgage for my own occupation.
I would like to know- which lenders have friendly polices towards -
1. Keeping occussional lodger , (while I'm residing in the property)
2. If I have to move to different city for couple years before moving back, then in that case- which lenders are friendly in terms of Consent-to-let?

Cheers,

HappyMJ

bobthemoggie wrote: »

Hi

I am buying a leasehold flat on residential mortgage for my own occupation.
I would like to know- which lenders have friendly polices towards -
1. Keeping occussional lodger , (while I'm residing in the property)
2. If I have to move to different city for couple years before moving back, then in that case- which lenders are friendly in terms of Consent-to-let?

Cheers,

The occasional lodger does not require permission whilst you remain living in the property at all times.

Even if you had a lodger for the whole tax year you still don't need permission as long as you reside in the property almost every night.

You need to speak to a broker regarding which lender will give you consent to let after a short period of ownership. You might be better of getting a new mortgage if you qualify.

buggy_boy

Dont forget your insurance...

Lodgers I would not worry about mortgage, consent to let I would find a good mortgage broker (A good one should not cost you anything and be independent and not be paying any referral fees, ie from an estate agent) but remember if they allow consent to let now that does not mean they will when you actually want to rent out the property.

If you go for a bank or building society that does BTL mortgages and has done for quite some time I would have thought you should be onto a pretty safe bet, but again best to ask.