Allowing Family to move into your property
4:01 PM, 17th January 2014, 12 years ago
3
Categories:
I have a 4 bedroom house which is empty some 2-3 months as i work traveling around the world, I am considering allowing some family members to move in to the spare rooms just to keep the property full while i am away.
Although they will paying the bills and contributing on the decorating – I wont be charging any rent from them – My question is do I need to inform my Mortgage company in any way – I am getting conflicting information from people when I ask.Â
Thanks 🙂
Pete
Comments
Have Your Say
Every day, landlords who want to influence policy and share real-world experience add their voice here. Your perspective helps keep the debate balanced.
Not a member yet? Join In Seconds
Login with
or
Previous Article
Looking to get into property investment or expand your portfolio?Next Article
How to find high yielding properties?
Member Since January 2011 - Comments: 12212 - Articles: 1408
4:04 PM, 17th January 2014, About 12 years ago
Hi Pete
Given that you will not be creating a tenancy then my guess would be that you do not need to inform your mortgage lender.
I suggest you read your mortgage offer and accompanying T&C’s though to be certain.
I used he word “guess” intentionally as I do not know for sure.
.
Member Since July 2013 - Comments: 17
5:55 PM, 22nd January 2014, About 12 years ago
I agree with Mark on this one. It would be the same as them moving whilst you lived there. To save having such a long read of your T’&C’s you could just call them and ask note down the date in your diary as all calls are recorded 🙂
Member Since January 2014 - Comments: 2
3:11 PM, 25th January 2014, About 12 years ago
Hi Pete! Generally you won’t need to inform your mortgage company about this as they are your own family member. But as because you are gonna take rent from them, in that case there might be an issue. You will turn into a landlord then. You might just want to let them know beforehand.