We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Obtaining a mortgage on a residential property with an outbuilding
Options
joAnn
Posts: 82 Forumite
We have found a house we are interested in buying that we plan to live in. It comes with an outbuilding in the garden that I have discovered was approved by the council as a play room. At the moment, the outbuilding almost looks like a studio or granny flat with its own separate entrance at the side of the main house and fenced off pathway. It has a bathroom and kitchenette area (no oven or sink though).
Our intention would be to use this room as a teenage retreat/entertainment area and for visiting relatives and friends to stay in.
It really does present as a fantastic rental option, so we are wondering how we might get around this with any lender we approach as we understand they don't like these things.
Any advice?
Our intention would be to use this room as a teenage retreat/entertainment area and for visiting relatives and friends to stay in.
It really does present as a fantastic rental option, so we are wondering how we might get around this with any lender we approach as we understand they don't like these things.
Any advice?
0
Comments
-
Some lenders can be picky with this.
Others are comfortable with a simple statement that you will not be letting the unit out.
Engage a broker to get it right.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards