Lifetime Mortgage, taking on a lodger?

Canadoug

As per my previous post I’m considering taking out a Lifetime Mortgage. I am concerned however that one of the acceptance clauses states that no business must take place in the premises. I would like to think that if the necessity arose I could at least take in a lodger or even do an Airbnb.
Does anyone have any thoughts on this please?

K_S

@canadoug I doubt it's as restrictive as that. For example, this is what Aviva says for its lifetime mortgage.

Canadoug

K_S said:

@canadoug I doubt it's as restrictive as that. For example, this is what Aviva says for its lifetime mortgage.

Thank you, that's perfectly clear regarding lodgers and answers the first concern that I expressed. 
However AirBnB would appear to be a different proposition and I have considered doing it, acceptable or not acceptable, any further thoughts please?

MWT

If you are talking about putting a spare room on AirBnB then you are probably still OK, but it is something you should specifically mention to your Advisor when going though the mandatory advice process so they can factor that in to the choice of lender.

For most lenders the concern is about running a business involving storage of stock and receiving customers onto the premises for example.