Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
I have a friend who would like to rent me their buy to let property with a view to me using it as a small HMO.
I purchased the Property118 rent to rent lease agreement and it’s fantastic and I have used it on deals where the owner owns the property outright. However, the latest deal has a BTL mortgage on it.
Does anyone have any advice as to how this deal could be achieved, would a licence of some sort be the way forward?
I have a long standing business career with this friend and am certain that he will stick with his word and let me rent the property for 5 years, but I am concerned to ensure that we don’t offend his lender in any way.
Thanks again for the great service provided by Property118
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