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    • user1977
    • By user1977 8th Apr 18, 7:43 PM
    • 2Posts
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    user1977
    BTL criteria - tenant both student and "family" of landlord?
    • #1
    • 8th Apr 18, 7:43 PM
    BTL criteria - tenant both student and "family" of landlord? 8th Apr 18 at 7:43 PM
    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 , 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.
Page 1
    • dimbo61
    • By dimbo61 8th Apr 18, 8:49 PM
    • 10,019 Posts
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    dimbo61
    • #2
    • 8th Apr 18, 8:49 PM
    • #2
    • 8th Apr 18, 8:49 PM
    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
    • By silvercar 9th Apr 18, 8:29 AM
    • 37,788 Posts
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    silvercar
    • #3
    • 9th Apr 18, 8:29 AM
    • #3
    • 9th Apr 18, 8:29 AM
    (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.
    • user1977
    • By user1977 9th Apr 18, 2:30 PM
    • 2 Posts
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    user1977
    • #4
    • 9th Apr 18, 2:30 PM
    • #4
    • 9th Apr 18, 2:30 PM
    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.
    Originally posted by dimbo61

    Don't worry, I'll be doing all that - just wondering if a lender is likely to have qualms.

    (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.
    Originally posted by silvercar

    Thanks!
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