Need help with consent to let!

Mike_88

Hi,

I am hoping to move abroad in August to work for 2 years and originally wanted my brother to live in my house whilst away. The mortgage company said no because it’s family so I’ve asked around other companies as my deal is up in May/June but they won’t allow it as I won’t be paid in sterling?!

My current company says my brother is allowed to ‘keep an eye on the property’ whilst I’m away but not live there. I’m confused about this as I will be away for more than 60 days at a time (which I told them) so would surely invalidate the insurance. They said I can let to a third party no problem but I will be back for around 2 months of the year so need somewhere to live during that time... not to mention all the faff with getting rid of all my furniture to let it out.

I’m a bit dissappointed as I know a couple of companies (Virgin) offer regulated BTL mortgages based on residential ones but have said I’d have to have the mortgage for a year before making the change.

If anybody has any bright ideas they would be greatly appreciated. I don’t want to miss out on going abroad to try it but I do have a stable job here so don’t want to end up with a load of hassle with tenants and finding places to stay when back home.

Thanks.

foxy-stoat

You can get landlords building insurance - they dont if you let to family, only the lender does because you are generally not going to evict family should the need arise.

Does your brother have an unmarried partner you could let the property to maybe to keep your mortgage lender "happy"?

Mike_88

Thanks. Unfortunately they have just split up as this was an idea we had also! Feeling very stumped!

foxy-stoat

Far be it for me to suggest trying to pull wool over lenders eyes, but if it were me and I would get your brother in as a lodger - work abroad and keep paying the mortgage....but I am sure there will be a line of folk saying that you will go to prison forever and get fines and house repossessed for telling porkies.