Can we let to buy?

Posted on 27 July 2008

Hi, me and my husband currently have a 3 bed semi detached house worth around £135,000 we bought it for £120,000 3 years ago, we are looking to move to a bigger property as we now have a baby. Would we be able to let the property out to our parents and buy a new property?

Many thanks, Lisa x

Thank you for your question and congratulations on the baby.

Yes you most certainly can, when you rent your home to your family this is known as a Regulated Buy to Let. However there are a limited number of lenders who will allow this.

The best advice I can give is to seek advice from a mortgage broker who will be able to take your details and complete more detailed research for you. You can contact one of our Charcol brokers on 0845 413 1053.

I wish you all the best.

Bea

 

Answers provided in response to Ask Bea are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not neccessarily represent the views, positions, strategies or opinions of Charcol Limited. All comments are made in good faith, and neither Charcol Limited nor Bea will accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

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