Renting out my flat , TSB mortgage

carlysmitten93

I’m looking for a bit of advice, I purchased my first flat on my own in December of last year so have lived there for 7 months. Due to the market that I am working in my job has been affected by brexit and Covid and is become increasingly stressful and looking a little less secure as I believed this time last year. I am also suffering with a bit of depression and anxiety and really am starting to dislike living there and spending more time back at home with my parents. Does anyone have any experience of renting out their flat in the first year of having a mortgage? I can’t sell it as I would have too big fees to get out of my 5 year fixed mortgage and also ideally I would rather keep it as an investment and potentially go back in a year or so. Any experiences or advice would be appreciated
thanks! 

MaryNB

I doubt it will alleviate your stress. There is a lot of work, cost and responsibility involved in letting out a property and could go very badly with unruly tenants who stop paying rent. 

Your lender may grant you a consent to let (with a time limit, maybe a year) but sometimes they may expect you to show an unforeseen set of circumstances (e.g. job relocation) forced you to move. It's entirely at their discretion. 

csgohan4

Personally I wouldn't if you had other options. What if the current tenants trashed your place and/or did pay rent for months on end. Getting an eviction isn't cheap either