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Can I rent out spare room if I purchase with Help to Buy Equity Loan?
IrishShane
Posts: 5 Forumite
Hi,
If I was a purchase a home with the aid of the HTB Equity Loan (+ utilising a Help to Buy ISA), can I rent out the spare room? I will be living in the main bedroom throughout.
By rent it out, I mean either temporarily (10-20 days a month by listing it on Airbnb or similar sites), or by having a lodger living with me?
Thanks for any help.
If I was a purchase a home with the aid of the HTB Equity Loan (+ utilising a Help to Buy ISA), can I rent out the spare room? I will be living in the main bedroom throughout.
By rent it out, I mean either temporarily (10-20 days a month by listing it on Airbnb or similar sites), or by having a lodger living with me?
Thanks for any help.
0
Comments
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IrishShane wrote: »Hi,
If I was a purchase a home with the aid of the HTB Equity Loan (+ utilising a Help to Buy ISA), can I rent out the spare room? I will be living in the main bedroom throughout.
By rent it out, I mean either temporarily (10-20 days a month by listing it on Airbnb or similar sites), or by having a lodger living with me?
Thanks for any help.
HTB EL won't prevent it and your mortgage lender is unlikely to prevent it but you'd need to check the T&C.0 -
Good to know, thank you!0
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IrishShane wrote: »By rent it out, I mean either temporarily (10-20 days a month by listing it on Airbnb or similar sites), or by having a lodger living with me?
Renting to a lodger means you can earn up to £7,500p.a. tax free (before expenses). Using Airbnb, I'm pretty sure you wouldn't qualify for the Rent a Room tax allowance, and you may well find that there are additional rules & restrictions imposed by your local council.Any language construct that forces such insanity in this case should be abandoned without regrets. –
Erik Aronesty, 2014
Treasure the moments that you have. Savour them for as long as you can for they will never come back again.0
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