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Buildings insurance - second home
Comments
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I have no problem with the landlord responsibility. I'm just saying that according to the quote from the money wise website it's permissible to have a residential mortgage for a family member to live in with natwest.
It might be, i don't know.
But i wouldn't take 3rd party assurances. I'd want cast iron written agreement from Natwest that in YOUR circumstance it's acceptable.
And then i'd start researching everything else.
LL responsibilities
Tax implications
Etc, etc.....0 -
I have no problem with the landlord responsibility. I'm just saying that according to the quote from the money wise website it's permissible to have a residential mortgage for a family member to live in with natwest.
Your source says you can but not if a formal legal contract will exist between the owner and the occupant. What I am saying is that because you will be charging rent that will create a formal, legally binding AST.0 -
So it seems to avoid all this confusion and potential probablems wed be better off buying the second property by remortgaging our first (which we own outright) and then paying cash for the second and then we're not tied in to clauses with the mortgage. We will not be charging rent anyway.0
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So it seems to avoid all this confusion and potential probablems wed be better off buying the second property by remortgaging our first (which we own outright) and then paying cash for the second and then we're not tied in to clauses with the mortgage.
Well maybe, but in your circumstance i'd be seeing a decent broker for your mortgage options then a damn good solicitor for all other considerations.
And the LL obligations remain regardless.0 -
:t :tsparky130a wrote: »
and the ll and insurance obligations remain regardless.0
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