Rent to Rent Scotland

AccidentalLandlord1

Our house wasn't selling on the current market and have opted for buy to let mortgage. We have been approached by someone we know and trust who has offered to rent our address as the tennant and thereafter add our address to a list of properties which he lets out as holiday lets. He would look after all maintenence and cleaning etc, we get our guaranteed set rent and he gets the profit. He sorts the application and planning etc with the local council. 

Before we commit fully- is there issues with doing this on a standard buy to let mortgage? Really struggling to find any clear answer online, mostly just says if landlord agrees its all good- we, as the landlords would of course give permission to sublet. Just don't want to upset the bank on this one!

(Scotland based)

user1977

Read the conditions of your mortgage (we can't see them from here!) but I expect it prohibits this sort of arrangement and would require a standard Private Residential Tenancy.

As well as possibly being a terrible idea from your own point of view, but no need to debate that if you're not allowed anyway.

Bookworm105

does your "someone" operate his holiday lets via his own limited company or do they do it as a sole trader?
If the former then be careful about the impact that has on your tenancy agreement with them.

theartfullodger

Bad idea whichever of the 4 countries you are in.

Think legally/contractually even more complex in Scotland...