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Moving out But want to keep my Flat
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scottland
Posts: 1 Newbie
Hi,
I was hoping someone could help me out. I had a look through the forum and couldn't find an answer to my question. I have had my flat for 4 years now and plan to move in with my partner later this year. I want to keep my flat, but i don't have any plans to rent it out as yet. A family friend is going to stay in it for 6 months during weekdays for their temp work contract in Glasgow but I haven't asked nor is there any plans to get rent money from them, only for them to pay their bills etc.
Do I have to change the type of mortgage I have just now? It's a capital repayment and I'm assuming I tell the lender I'm moving out, but would I have to change my mortgage to a let-to-buy if I don't plan on getting money from it?
Advice is appreciated
Scott
I was hoping someone could help me out. I had a look through the forum and couldn't find an answer to my question. I have had my flat for 4 years now and plan to move in with my partner later this year. I want to keep my flat, but i don't have any plans to rent it out as yet. A family friend is going to stay in it for 6 months during weekdays for their temp work contract in Glasgow but I haven't asked nor is there any plans to get rent money from them, only for them to pay their bills etc.
Do I have to change the type of mortgage I have just now? It's a capital repayment and I'm assuming I tell the lender I'm moving out, but would I have to change my mortgage to a let-to-buy if I don't plan on getting money from it?
Advice is appreciated
Scott
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