Posted on 6 August 2011 by Michelle
I have a mortgage with rbs on home buy scheme am I able to rent my house out or will this incur extra charges?
I am pretty sure that the answer to this will be no. Homebuy schemes exist to help people on to the residential property ladder where they may not otherwise be able to afford to do so. They are not intended as an investment and you should check your original contract documents because you could well find that you are not allowed to subsequently let the property without first buying the property outright.
I recommend you speak to your Homebuy agent/Housing Association before approaching RBS for their consent to let the property.
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