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| Renting Property Buy-to-let, Landlord discussion, Tenant issues and Q&A. |
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26-01-2012, 06:55 PM
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Advice please - can I rent without a BTL mortgage?
Hi
I have been offered a fantastic job abroad and want to rent out my property. I have shared ownership - 75% Am I allowed to rent it out? Someone suggested writing to my lender but as it is shared ownership I fear they will say no. This is my retirement fund and don't want to sell. Help please! 
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27-01-2012, 04:24 PM
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Re: Advice please - can I rent without a BTL mortgage?
The shared ownership scheme is nothing to do with your lender and your shared ownership agreement will detail what you can and cannot do so dig it out and read it !!!
The lender should also be asked for consent to let and the response you get will be very mixed from a downright no to a yes with no change in terms but as a general response they say yes with the following proviso's: 1) No DSS tenants 2) Landlords insurance taken out 3) Increase in interest rate and/or admin fee 4) Agreement for a limited time period followed by a review Hope this assists
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