Lenders who allow lodgers

davidmcn

You can find out the answer by reading the mortgage conditions, rather than hoping that whichever customer services droid you speak to understands them.

Jumblebumble

SlyQ said:

That's what I thought, from having read anything I could find about lodgers. But because he was worried about it I did a webchat with NatWest and was transferred to the mortgage department who categorically told me -

NWB Good afternoon, how are you today? I can see that you are querying about being able to rent out a room of your property. If you have a residential mortgage, this isnt something that you would be able to do unfortunately. You would only be able to rent out the full property (if you were moving elsewhere) or you can have a family member/friend stay with you as a lodger but are unable to rent out a room unfortunately

Me Maybe I used the wrong wording-I am considering having a paid lodger. Is that the same as renting out?

They would just have one room, whilst we continue to live here.

NWB That would be the same unfortunately; you wouldnt be able to rent out a room to someone and receive rental income/have a tenancy agreement in place with them, have locks on bedroom doors etc

Me Oh, I thought most lenders were happy with the 'rent a room scheme'?

NWB I wouldnt be able to say about other lenders, it may be something that they would allow under residential mortgages but its not for Natwest & RBS I'm afraid

Me OK thank you

The idiotic customer service agent does nor realise that a lodger is not going to have a tenancy agreement as they are not a tenant. 
I struggle to understand why anyone would even discuss this with their Mortgage company in any case
It is sometimes better to seek forgiveness than permission