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Renting flat after 8 months
Fiona85
Posts: 1 Newbie
Looking for advice on renting a flat I bought as a first time buyer 8 months ago as my boyfriend has asked me to move in with him.
Is it possible so early on in a new mortgage (fixed 2 years) where I have so little equity and was sold to me as a first time buyer?
Is it possible so early on in a new mortgage (fixed 2 years) where I have so little equity and was sold to me as a first time buyer?
0
Comments
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Very unlikely you'll get consent to let from your lender so early. But it won't hurt to ask.
Does the flat have any restrictions on letting?0 -
presumably you will not be "renting" the flat off yourself, so you must mean you will be LETTING the flat to someone else
consent to LET may, or may not, be granted by your lender, you won't know until you ask them0 -
Do you know the pitfalls and practicalities of becoming a LL?in S 38 T 2 F 50
out S 36 T 9 F 24 FF 4
2017-32 2018 -33 2019 -21 2020 -5 2021 -4 20220 -
Check your lease.Very unlikely you'll get consent to let from your lender so early. But it won't hurt to ask.
some lenders have a 6 month rule - some 12months. Some treat each case individually. And some refuse CTL altogether.
The alternative is to switch to BTL, but there might be costs with early redemptionon your current mortgage product.
Does the flat have any restrictions on letting?
See also:
* New landlords (1):advice & information :see links in next post
* New landlords (2): Essential links for further information
* Letting agents: how should a landlord select or sack?0
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