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TG18
Posts: 2 Newbie
Hello I was wondering whether anyone has any advice on this.
I am the tenant in a shared ownership flat - I have a mortgage for 25% and the rest I pay is rent to a housing association. I want to take a year out from the usual to do something productive, whether that be studying or charity work abroad.
If I was to go abroad, there's little chance I could cover my mortgage and rent here in the UK, as well as my expenses there, without a friend staying in my flat and covering what I pay. I wouldn't want to make a profit, just simply bring in someone I trust to pay what I do while I'm away for a definite period. I think I could find someone.
My tenancy says that I can't sublet to other people and although I wouldn't be making a profit, it would still technically be subletting.
Has anyone else ever been in a similar situation or do you have any advice?
Some people have said just do it and the housing association won't care as long as their rent is paid. But that's risky. Others have said ask the housing association, but if I do that they'll go by the book and say No.
I am fortunate to have the flat and I worked hard to get it, so I don't want to lose it as I think it's unlikely I'd ever be as fortunate again.
I am the tenant in a shared ownership flat - I have a mortgage for 25% and the rest I pay is rent to a housing association. I want to take a year out from the usual to do something productive, whether that be studying or charity work abroad.
If I was to go abroad, there's little chance I could cover my mortgage and rent here in the UK, as well as my expenses there, without a friend staying in my flat and covering what I pay. I wouldn't want to make a profit, just simply bring in someone I trust to pay what I do while I'm away for a definite period. I think I could find someone.
My tenancy says that I can't sublet to other people and although I wouldn't be making a profit, it would still technically be subletting.
Has anyone else ever been in a similar situation or do you have any advice?
Some people have said just do it and the housing association won't care as long as their rent is paid. But that's risky. Others have said ask the housing association, but if I do that they'll go by the book and say No.
I am fortunate to have the flat and I worked hard to get it, so I don't want to lose it as I think it's unlikely I'd ever be as fortunate again.
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Comments
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Hello I was wondering whether anyone has any advice on this.
I am the tenant in a shared ownership flat - I have a mortgage for 25% and the rest I pay is rent to a housing association. I want to take a year out from the usual to do something productive, whether that be studying or charity work abroad.
If I was to go abroad, there's little chance I could cover my mortgage and rent here in the UK, as well as my expenses there, without a friend staying in my flat and covering what I pay. I wouldn't want to make a profit, just simply bring in someone I trust to pay what I do while I'm away for a definite period. I think I could find someone.
My tenancy says that I can't sublet to other people and although I wouldn't be making a profit, it would still technically be subletting.
Has anyone else ever been in a similar situation or do you have any advice?
Some people have said just do it and the housing association won't care as long as their rent is paid. But that's risky. Others have said ask the housing association, but if I do that they'll go by the book and say No.
I am fortunate to have the flat and I worked hard to get it, so I don't want to lose it as I think it's unlikely I'd ever be as fortunate again.
Stop with the technicalities because they aren't technicalities. You wouldn't technically be subletting, legally you would be subletting. As for making a profit you either do or you don't. How are you calculating the profit?
It's not just consent to let from the HA you'll need but from the mortgage lender as well. You will also need to declare the rental income to HMRC and comply with all the necessary landlord legislation. Only you can decide if breaching the terms of your lease and mortgage are worth the risk or you could always ask for consent.0 -
Hello I was wondering whether anyone has any advice on this.
I am the tenant in a shared ownership flat - I have a mortgage for 25% and the rest I pay is rent to a housing association. I want to take a year out from the usual to do something productive, whether that be studying or charity work abroad.
If I was to go abroad, there's little chance I could cover my mortgage and rent here in the UK, as well as my expenses there, without a friend staying in my flat and covering what I pay. I wouldn't want to make a profit, just simply bring in someone I trust to pay what I do while I'm away for a definite period. I think I could find someone.
My tenancy says that I can't sublet to other people and although I wouldn't be making a profit, it would still technically be subletting.
Has anyone else ever been in a similar situation or do you have any advice?
Some people have said just do it and the housing association won't care as long as their rent is paid. But that's risky. Others have said ask the housing association, but if I do that they'll go by the book and say No.
I am fortunate to have the flat and I worked hard to get it, so I don't want to lose it as I think it's unlikely I'd ever be as fortunate again.
It is really very simple. If someone else lives there instead of you even if they don't pay rent you have sublet it which you are not allowed to do.
This means that you can't go abroad for a year while still owning this house so you have a choice. Either you a) sell it and go abroad or you b) keep it and don't go abroad.
You can't always have what you want.0 -
If you keep a room for your use, keep all your possessions there, return to the property at will during your travelling, you may be able to take a lodger. Your friend may be happy with this arrangement.I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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Thanks for your responses.
Looks like I'll just have to sell, but if that's the case there's no harm in asking the HA, even if I think it's almost certain they'll say no.0
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