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    • Ftbftbftb
    • By Ftbftbftb 4th Mar 18, 11:46 PM
    • 8Posts
    • 0Thanks
    Ftbftbftb
    Occupiers form help needed
    • #1
    • 4th Mar 18, 11:46 PM
    Occupiers form help needed 4th Mar 18 at 11:46 PM
    Hi
    Its my first post and I wanted some advice.
    I am purchasing my first home and in the process of conveyancing at the moment.
    Iím purchasing a 4 bedroom house. I am single and initially thought i would be living there alone.
    However, I have two close friends who I would like to help out for a few months. They require a place to live, I want to allow them to live with me for a few months until they can save up enough to get there own place.
    I wont be charging them any rent and they wont contribute to any major bills ( as they will mainly just sleep there). Im totally happy with this arrangement as they are in need of desperate help and are new to the country.
    My questions are
    1- am I allowed to do this? (This wont be classed as a buy to let) as I am living there myself and not charging rent)
    2- on the occupiers form will I need to complete there details even though its just for a few months?
    3- will this potentially affect my mortgage offer, as I understand the occupiers form is mainly used to ensure that if the lender was to repossess they wont have a financial interest in the property?
    4- Im a bit anxious to be honest as I really dont want to jeopardise my house purchase and possibly thinking the lender may think they are lodgers or tennants when they are not.

    Am I overthinking things or should I be cautious? Really would appreciate any constructive advice.

    Many thanks.
Page 1
    • Tom99
    • By Tom99 5th Mar 18, 3:10 AM
    • 2,070 Posts
    • 1,393 Thanks
    Tom99
    • #2
    • 5th Mar 18, 3:10 AM
    • #2
    • 5th Mar 18, 3:10 AM
    I would say nothing and let your friends move in at some point after you have completed.
    Don't forget you will not be able to claim a single person council tax discount.
    • badmemory
    • By badmemory 5th Mar 18, 4:10 AM
    • 1,616 Posts
    • 2,138 Thanks
    badmemory
    • #3
    • 5th Mar 18, 4:10 AM
    • #3
    • 5th Mar 18, 4:10 AM
    You do however need to be careful not to give them any rights to your property.
    • Ftbftbftb
    • By Ftbftbftb 5th Mar 18, 11:19 AM
    • 8 Posts
    • 0 Thanks
    Ftbftbftb
    • #4
    • 5th Mar 18, 11:19 AM
    • #4
    • 5th Mar 18, 11:19 AM
    I would say nothing and let your friends move in at some point after you have completed.
    Don't forget you will not be able to claim a single person council tax discount.
    Originally posted by Tom99

    So that form is only at completion time?
    So if they moved in a few days later technically I wouldnít need to fill out there details?

    Will I still need to inform the lender later on though or not ?
    I wonít be claiming CT discount.

    You do however need to be careful not to give them any rights to your property.
    Originally posted by badmemory
    No I wonít be giving them any rights. By taking the in Iím not giving them right later automatically am I ?
    • AnotherJoe
    • By AnotherJoe 5th Mar 18, 11:34 AM
    • 9,422 Posts
    • 10,418 Thanks
    AnotherJoe
    • #5
    • 5th Mar 18, 11:34 AM
    • #5
    • 5th Mar 18, 11:34 AM
    K.I.S.S.

    Dont tell 'em.
    • Comms69
    • By Comms69 5th Mar 18, 11:37 AM
    • 2,970 Posts
    • 2,938 Thanks
    Comms69
    • #6
    • 5th Mar 18, 11:37 AM
    • #6
    • 5th Mar 18, 11:37 AM
    Hi
    Its my first post and I wanted some advice.
    I am purchasing my first home and in the process of conveyancing at the moment.
    Iím purchasing a 4 bedroom house. I am single and initially thought i would be living there alone.
    However, I have two close friends who I would like to help out for a few months. They require a place to live, I want to allow them to live with me for a few months until they can save up enough to get there own place.
    I wont be charging them any rent and they wont contribute to any major bills ( as they will mainly just sleep there). Im totally happy with this arrangement as they are in need of desperate help and are new to the country.
    My questions are
    1- am I allowed to do this? (This wont be classed as a buy to let) as I am living there myself and not charging rent)
    2- on the occupiers form will I need to complete there details even though its just for a few months?
    3- will this potentially affect my mortgage offer, as I understand the occupiers form is mainly used to ensure that if the lender was to repossess they wont have a financial interest in the property?
    4- Im a bit anxious to be honest as I really dont want to jeopardise my house purchase and possibly thinking the lender may think they are lodgers or tennants when they are not.

    Am I overthinking things or should I be cautious? Really would appreciate any constructive advice.

    Many thanks.
    Originally posted by Ftbftbftb
    Totally overthinking it. Once you complete, there should be no limitation on visitors/guests (staying for free) or lodgers (paying a small rent)


    Charging a token rent would be a good idea as you will have increased costs. £200 each per month would be reasonable.
    • davidmcn
    • By davidmcn 5th Mar 18, 12:04 PM
    • 7,664 Posts
    • 7,800 Thanks
    davidmcn
    • #7
    • 5th Mar 18, 12:04 PM
    • #7
    • 5th Mar 18, 12:04 PM
    there should be no limitation on visitors/guests (staying for free) or lodgers (paying a small rent)
    Originally posted by Comms69
    Irrespective of what the mortgage conditions say about it?
    • Comms69
    • By Comms69 5th Mar 18, 12:08 PM
    • 2,970 Posts
    • 2,938 Thanks
    Comms69
    • #8
    • 5th Mar 18, 12:08 PM
    • #8
    • 5th Mar 18, 12:08 PM
    Irrespective of what the mortgage conditions say about it?
    Originally posted by davidmcn


    I've yet to see mortgage conditions that prevent lodgers. (insurance is a different matter)
    • kingstreet
    • By kingstreet 5th Mar 18, 12:08 PM
    • 33,385 Posts
    • 18,069 Thanks
    kingstreet
    • #9
    • 5th Mar 18, 12:08 PM
    • #9
    • 5th Mar 18, 12:08 PM
    Some lenders (RBS for one, IIRC) asks for any change in the occupiers to be reported to them at any/all times.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • Ftbftbftb
    • By Ftbftbftb 5th Mar 18, 12:20 PM
    • 8 Posts
    • 0 Thanks
    Ftbftbftb
    I haven!!!8217;t got my mortgage conditions at the moment. I have applied with Nationwide. Do they normally have an issue with this?

    Insurance, I am aware I will need to tell them. By the way are they classed as lodgers or guests that are staying and not contributing financially in terms of insurance and lender?
    • Comms69
    • By Comms69 5th Mar 18, 12:29 PM
    • 2,970 Posts
    • 2,938 Thanks
    Comms69
    I haven!!!8217;t got my mortgage conditions at the moment. I have applied with Nationwide. Do they normally have an issue with this?

    Insurance, I am aware I will need to tell them. By the way are they classed as lodgers or guests that are staying and not contributing financially in terms of insurance and lender?
    Originally posted by Ftbftbftb


    Guests if free
    Lodgers is paying


    - in any case staying beyond a typical 7-14 day period would require you to let insurers know
    • Fisa002
    • By Fisa002 5th Mar 18, 2:58 PM
    • 144 Posts
    • 61 Thanks
    Fisa002
    i have applied to NW for a mortgage too. I just signed the forms and told them who would be living there and never though let anymore of it.
    Im not sure if they are trying to !!!8216;catch you out!!!8217; by seeing if you are keeping a lodger or renting I think its more to see if later on if the bank was to repossess no one else will have a financial interest in the property. I may be wrong though as in your case it isn!!!8217;t family that will be staying.
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