Consent to Let? Lodger? Ideas?

newleaseholder

I am thinking about moving abroad for few years and I am wondering what to do with my flat;
I believe I can obtain a consent to let from the lender (Barclays) for up to 2 years though I don't know how long I will be away (could be less, could be more).

I would also like to keep my current address and happy to have a lodger (I am okay with less rental income) but I am not sure if I can be an absent live in landlord? It'll be my main residence in the UK.

What are my options? SE, London commute area.

anselld

You can't have a lodger if you are not resident. CTL or re-mortgage on BTL are your only options.

Your username suggests you should also check your Lease permits letting.

There is a lot more you need to learn about being a landlord which no-doubt G_M will post shortly.

newleaseholder

Thanks - lease is okay so no problem there (I need to extend the lease, but there're no restrictions on subletting).
So either CTL for 2 years or full blown BTL?
I guess getting a BTL will be a pain when employed abroad and will need to convert back to residential if I move back? grrr

G_M

newleaseholder wrote: »

............ not sure if I can be an absent live in landlord? .......

:rotfl::rotfl::rotfl:

Sorry!

Nice try!

You'll be an overseas landlord and have a tenant. See

* New landlords: advice, information & links

* Letting agents: how should a landlord select or sack?

badger09

newleaseholder wrote: »

Thanks - lease is okay so no problem there (I need to extend the lease, but there're no restrictions on subletting).
So either CTL for 2 years or full blown BTL?
I guess getting a BTL will be a pain when employed abroad and will need to convert back to residential if I move back? grrr

As far as I'm aware, there is no standard length of a CTL.

My son initially went to HK to work on a 12 month term and got CTL permission. His contract was extended by another year and the CTL was extended with no problem. IIRC, he then changed roles with no end date specified. At that point his mortgage rate was increased, though it was still a residential mortgage with indefinite CTL.

newleaseholder

G_M wrote: »

:rotfl::rotfl::rotfl:

Sorry!

Nice try!

You'll be an overseas landlord and have a tenant.

Yes - well I wasn't trying! I don't know yet how long I will be abroad... but I suppose it will depend where I will make myself a 'resident' for tax purposes; if I go abroad for less than 183 day and I declare all my income in the UK then it should be okay to have a lodger.

Pixie5740

newleaseholder wrote: »

Yes - well I wasn't trying! I don't know yet how long I will be abroad... but I suppose it will depend where I will make myself a 'resident' for tax purposes; if I go abroad for less than 183 day and I declare all my income in the UK then it should be okay to have a lodger.

I wouldn't be too sure about that....

00ec25

newleaseholder wrote: »

if I go abroad for less than 183 day and I declare all my income in the UK then it should be okay to have a lodger.

being a lodger has nothing to do with income tax law and everything to do with housing law

funnily enough, housing law does not concern itself with how many days you are in or out of the Uk, or on Mars for that matter.

Cheeky_Monkey

newleaseholder wrote: »

Yes - well I wasn't trying! I don't know yet how long I will be abroad... but I suppose it will depend where I will make myself a 'resident' for tax purposes; if I go abroad for less than 183 day and I declare all my income in the UK then it should be okay to have a lodger.

You don't appear to be listening (or rather reading)!!

They cannot be a lodger if you don't live in the property with them. It really is that simple!

G_M

newleaseholder wrote: »

....... but I suppose it will depend where I will make myself a 'resident' for tax purposes; if I go abroad for less than 183 day and I declare all my income in the UK then it should be okay to have a lodger.

As Pixie says, you may be a UK resident for tax purposes, but that does not mean that the property you receive rent for is your 'primary residence'. Or is your residence at all. It certainly does not mean the occupant is an 'Excluded Occupier' for the purposes of the Housing Act 1988 .

You could certainly give our 'rent-payer' a lodger agreement/licence to occupy, and this might present no problems if all goes smoothly.

Similarly I could drive 90 mph up the motorway without issue if no cameras or police cars spot me..

But if an issue arises, the occupant could easily claim to be a tenant, with all the protections and rights that go with that. eg tenant

* disgruntled over speed of repair when boiler breaks down
* moves his partner/mum/3 best mates in as well against your wishes
* does not wish to leave when asked
* dispute over return of the deposit
* is simply a 'professional tenant' (google it)

Once the occupant decides to maike such a claim, you will be in as much difficulty (relatively speaking) as I would if the police or a camera spot me doing 90 mph.