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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.Her courage will change the world.
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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