Consent to Let on Help to Buy ISA

clidbury

My girlfriend and I bought a house last year using the Help to Buy ISA incentive.

We are looking to go travelling for a year or so and want to apply for a Consent to Let from March (mortgage will be 1 year old). All I can find online is about permanent renting in exceptional circumstances (armed forces etc), but nothing about temporary renting arrangements, so not sure if this is possible.

I will be ringing the mortgage company in a few days once we have found out if the rent we can achieve will cover mortgage/fees, but wondered if anyone has any information on whether this is a straight up no regardless of circumstance.

DCFC79

What does the agrrement you signed say about renting ?

I presume you get a copy of what you signed.

clidbury

I don't believe we had anything specifically to do with the ISA, just our closing statements which our solicitor had to apply for the funds. There is probably something in the mortgage offer though, I'll dig that out when I'm home

rtho782

Technically, you're breaking the rules if you ever rent the house out. I don't know that the government would check.

Perhaps don't use H2B ISA if you want to buy to (temporarily) let.

Pixie5740

I don't think HTB ISA prohibits you from ever letting the property. It's just that in order to claim your bonus you must buy a property that you are going to live in as your only home. It doesn't prevent you from letting further down the line.

Rich2808

As long as you are a first time buyer and have never owned a residential property anywhere in the world you are eligible to claim the help to buy isa bonus at point of completion if you are buying a home you intend to live in (i.e. you have a standard residential mortgage).

What you do post completion has no impact on your eligibility for this and you wont have to repay the bonus if you rent it out one day after completion.

If however you mean help to buy equity loans (i.e. 20% interest free for 5 years rising to 40% in London) that is another matter as those products normally don't allow you to rent the property out.