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Has anyone been forbidden from putting spare room on Airbnb when asking the mortgage lender?

I've posted a similar question but didn't get many relevant responses to what I really wanted to ask. Has anyone ever had their mortgage lender deny stopped the from putting a spare bed up on Airbnb or are they quite relaxed so long you tell them first?

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  • Browntoa
    Browntoa Posts: 49,288
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  • muhandis
    muhandis Posts: 994
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    It depends entirely on the specific lender.

    A minority of mainstream lenders allow borrowers on residential mortgages to do short-lets for a limited period. For instance Metro bank residential mortgages allow borrowers to rent out properties through Airbnb, and similar sites, for up to 90 days a year without prior approval.

    Which lender are we talking about here?
    I've posted a similar question but didn't get many relevant responses to what I really wanted to ask. Has anyone ever had their mortgage lender deny stopped the from putting a spare bed up on Airbnb or are they quite relaxed so long you tell them first?
  • davidmcn
    davidmcn Posts: 23,596
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    Like I said on your other thread, whether you even need to ask depends on what your mortgage conditions say - have you checked?
  • Niv
    Niv Posts: 2,460
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    I tried to look up from my lender the same thing, but it just refers to letting out the whole place, there really is little detail on letting a room for the night on sites such as air bnb. I will be doing as Davidmcn says and checking the specific T&C's for my mortgage as the general info from the mortgage lender does not cover it.
    YNWA

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  • muhandis
    muhandis Posts: 994
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    Check for any language around "lodgers".
    Niv wrote: »
    I tried to look up from my lender the same thing, but it just refers to letting out the whole place, there really is little detail on letting a room for the night on sites such as air bnb. I will be doing as Davidmcn says and checking the specific T&C's for my mortgage as the general info from the mortgage lender does not cover it.
  • edgex
    edgex Posts: 4,177
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    Will your insurance cover it?
  • Honeylife
    Honeylife Posts: 249
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    muhandis wrote: »
    Check for any language around "lodgers".

    And/Or "Boarders and Hosting" (you provide a meal or two for Boarders if you are a Host)

    It is the Insurance that is the prime issue for taking in Lodgers not the mortgage provider.
    "... during that time you must never succumb to buying an extra piece of bread for the table or a toy for a child, no." the Pawnbroker 1964

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  • Got residential interest only mortgage from Santander to buy house on tourist route. Within a month started B and B renting all four rooms and sleeping out back in van. Soon went on booking.com and air bnb. No worries from Santander even after they were informed. They sent us a consent to let for free !!and have left us alone !! Don’t think they want the hassle . Seems like if keep up payments they couldn’t care less. Still on Airbnb and booking.com. Saving up to pay it off
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