Occupiers form help needed

Ftbftbftb

Hi
Its my first post and I wanted some advice.
I am purchasing my first home and in the process of conveyancing at the moment.
I’m purchasing a 4 bedroom house. I am single and initially thought i would be living there alone.
However, I have two close friends who I would like to help out for a few months. They require a place to live, I want to allow them to live with me for a few months until they can save up enough to get there own place.
I wont be charging them any rent and they wont contribute to any major bills ( as they will mainly just sleep there). Im totally happy with this arrangement as they are in need of desperate help and are new to the country.
My questions are
1- am I allowed to do this? (This wont be classed as a buy to let) as I am living there myself and not charging rent)
2- on the occupiers form will I need to complete there details even though its just for a few months?
3- will this potentially affect my mortgage offer, as I understand the occupiers form is mainly used to ensure that if the lender was to repossess they wont have a financial interest in the property?
4- Im a bit anxious to be honest as I really dont want to jeopardise my house purchase and possibly thinking the lender may think they are lodgers or tennants when they are not.

Am I overthinking things or should I be cautious? Really would appreciate any constructive advice.

Many thanks.

Tom99

[FONT=Verdana, sans-serif]I would say nothing and let your friends move in at some point after you have completed.[/FONT]
[FONT=Verdana, sans-serif]Don't forget you will not be able to claim a single person council tax discount.[/FONT]

badmemory

You do however need to be careful not to give them any rights to your property.

Ftbftbftb

Tom99 wrote: »

[FONT=Verdana, sans-serif]I would say nothing and let your friends move in at some point after you have completed.[/FONT]
[FONT=Verdana, sans-serif]Don't forget you will not be able to claim a single person council tax discount.[/FONT]

So that form is only at completion time?
So if they moved in a few days later technically I wouldn’t need to fill out there details?

Will I still need to inform the lender later on though or not ?
I won’t be claiming CT discount.

badmemory wrote: »

You do however need to be careful not to give them any rights to your property.

No I won’t be giving them any rights. By taking the in I’m not giving them right later automatically am I ?

AnotherJoe

K.I.S.S.

Dont tell 'em.

Comms69

Ftbftbftb wrote: »

Hi
Its my first post and I wanted some advice.
I am purchasing my first home and in the process of conveyancing at the moment.
I’m purchasing a 4 bedroom house. I am single and initially thought i would be living there alone.
However, I have two close friends who I would like to help out for a few months. They require a place to live, I want to allow them to live with me for a few months until they can save up enough to get there own place.
I wont be charging them any rent and they wont contribute to any major bills ( as they will mainly just sleep there). Im totally happy with this arrangement as they are in need of desperate help and are new to the country.
My questions are
1- am I allowed to do this? (This wont be classed as a buy to let) as I am living there myself and not charging rent)
2- on the occupiers form will I need to complete there details even though its just for a few months?
3- will this potentially affect my mortgage offer, as I understand the occupiers form is mainly used to ensure that if the lender was to repossess they wont have a financial interest in the property?
4- Im a bit anxious to be honest as I really dont want to jeopardise my house purchase and possibly thinking the lender may think they are lodgers or tennants when they are not.

Am I overthinking things or should I be cautious? Really would appreciate any constructive advice.

Many thanks.

Totally overthinking it. Once you complete, there should be no limitation on visitors/guests (staying for free) or lodgers (paying a small rent)


Charging a token rent would be a good idea as you will have increased costs. £200 each per month would be reasonable.

davidmcn

Comms69 wrote: »

there should be no limitation on visitors/guests (staying for free) or lodgers (paying a small rent)

Irrespective of what the mortgage conditions say about it?

Comms69

davidmcn wrote: »

Irrespective of what the mortgage conditions say about it?

I've yet to see mortgage conditions that prevent lodgers. (insurance is a different matter)

kingstreet

Some lenders (RBS for one, IIRC) asks for any change in the occupiers to be reported to them at any/all times.

Ftbftbftb

I haven!!!8217;t got my mortgage conditions at the moment. I have applied with Nationwide. Do they normally have an issue with this?

Insurance, I am aware I will need to tell them. By the way are they classed as lodgers or guests that are staying and not contributing financially in terms of insurance and lender?

Comms69

Ftbftbftb wrote: »

I haven!!!8217;t got my mortgage conditions at the moment. I have applied with Nationwide. Do they normally have an issue with this?

Insurance, I am aware I will need to tell them. By the way are they classed as lodgers or guests that are staying and not contributing financially in terms of insurance and lender?

Guests if free
Lodgers is paying


- in any case staying beyond a typical 7-14 day period would require you to let insurers know