Can I let my BTL to my husband?

Posted on 19 September 2012 by CK


I am buying a buy to let property in my name. Can I legally rent it out to my husband?

CK

There is nothing to stop you letting a Buy to Let property to your husband if you have not got a mortgage on it.  If you have a mortgage then you will need to speak to your lender and check whether or not you will be in breach of your mortgage conditions.  As with any breach they can ask you to redeem the mortgage or face having the property repossessed so it is in your interests to check first.

If you are in the process of arranging a mortgage then there are lenders who will allow the property to be let to a relative and will underwrite and process the loan accordingly.  Any other lender may suspect you of committing mortgage fraud if you are not upfront with your intentions and not only will your application get declined, but your credit file will be marked and you will find it nigh on impossible to get credit of any sort in the future.

Peter

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