BTL criteria - tenant both student and "family" of landlord?

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user1977
user1977 Posts: 14,075 Forumite
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Mainly a query for the brokers...

My girlfriend will soon be starting a university course, which will be distant from her current abode so she'll need a place to live. As we suspect many landlords/agents will object to the combination of her pets, children and student status, we're considering whether I can buy somewhere for her to stay. We might be able to do this as a cash purchase but a mortgage would be helpful.

Leaving aside the concerns about the inappropriate aspects of our landlord/tenant relationship :D, we have no problem in setting this up as a normal arm's length tenancy, but I wonder if lenders will object to her being (a) a (mature) student and/or (b) my (non-cohabiting) girlfriend. From a quick look online, I see some have problems with students, and some with immediate family as tenants, but not sure if this is a particularly difficult scenario? She'll be able to (genuinely) pay sufficient rent to cover my costs, and I'm not expecting anything else about the property or the affordability to be awkward - at a guess say 50% LTV.

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  • dimbo61
    dimbo61 Posts: 13,716 Forumite
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    Why not buy with cash and rent out to your girlfriend and do all the things a responsible Landlord should do. Gas safe check, full electrical inspection, CO alarm and smoke alarms.
    Draw up a short hold tenancy agreement and join a landlords association such as RLA or NLA
    Treat this as a proper undertaking.
  • silvercar
    silvercar Posts: 46,962 Ambassador
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    (b) doesn't need to be declared to a lender.
    (a) will depend on the lender, it may also mean you have less options for insurers. with that low LTV I suspect that you will find a lender.
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  • user1977
    user1977 Posts: 14,075 Forumite
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    dimbo61 wrote: »
    Why not buy with cash and rent out to your girlfriend and do all the things a responsible Landlord should do. Gas safe check, full electrical inspection, CO alarm and smoke alarms.
    Draw up a short hold tenancy agreement and join a landlords association such as RLA or NLA
    Treat this as a proper undertaking.


    Don't worry, I'll be doing all that - just wondering if a lender is likely to have qualms.
    silvercar wrote: »
    (b) doesn't need to be declared to a lender.
    (a) will depend on the lender, it may also mean you have less options for insurers. with that low LTV I suspect that you will find a lender.


    Thanks!
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