Moving Mum back into a BTL property?

by Readers Question

4 weeks ago

Moving Mum back into a BTL property?

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Moving Mum back into a BTL property?

I am wondering if anyone could answer this question. I own a property outright that my Mum currently lives in.

Mum now wishes to move to Spain and has asked me if I can get a Buy to Let mortgage on the house to free up some funds.

My question is if Spain for whatever reason does not work out for her can I move her back in to the house at the end of tenant’s agreement?

Or would the mortgage company not like that?

Many thanks



Neil Patterson

4 weeks ago

Hi David,

If you have no intention at the moment of ever moving your Mum back into the property then you can apply for a standard BTL mortgage.

However, if you consider it a possibility (which you do) that a close relative, eg your mum, may live in the property now or at any point in the future this then becomes a regulated now called consumer BTL.

A regulated consumer BTL is treated differently for compliance purposes more like a residential mortgage and is offered by fewer lenders, but there is still choice and does not preclude you from obtaining a BTL mortgage.

John Stallan

4 weeks ago

Hello David,
If you think your mum might move back into the property, then perhaps consider a short term fixed or tracker mortgage just in case you need to take action should that happen. Also take into account any early repayment fees there may be associated with the mortgage should you need to change early.



4 weeks ago

Remortgage now as a second home. BTL is not available if the tenant is family. This will allow you loop holes later should you need them. Lending criteria and rates are also slightly better. You will not dodge the tax when you let to non family though. But still a better deal.

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