Newbie BTL

MigsyBigsy

Hello All,
I am considering moving in with my partner but do not really want to sell my property. I have only just signed off the papers for a remortgage but I take it I need to inform the bank of the change of circumstances?
Any information on BTL would be very very helpful.

thanks
M

Thrugelmir

You'll need to inform your lender and obtain consent. Suggest you ring and find out their position.

foxy-stoat

Look on your lenders website about consent to let, obviously you have already researched the current rental market in your area and your landlord responsibilities and know how much income tax you need to put by so you know how much net profit you will make so you know if its worth it.

silvercar

I can understand your reluctance to sell up this early in the relationship. Selling up would mean you have no home to return to if the relationship failed.

Best to inquire of your lender if they will allow consent to let in the short term. Then in the future you can make a decision whether to move to a BTL mortgage or sell up.