Jump to content

Do I have to get a buy-to-let mortgage

Recommended Posts

Good Morning, 

I recently bought my first property in May this year with the intention to live in it and commute to London. 

However, a change in circumstance means that I'll be required in London far more often than initially thought. As a result, I see the commute being untenable and would like to rent my flat out to (at the very least) cover costs. I've got a couple of friends who would be willing to rent from me, but do I have to change the mortgage to a B2L, or can I keep the mortgage as is, if I'm renting to friends? 

Any help or advice would be much appreciated! 


Link to post
  • 2 weeks later...

Good morning @d2ltnh

If you are intending to rent the property out, then you will need to either remortgage on to a 'Let to Buy' mortgage (It will not be a Buy to Let mortgage, as you have previously occupied the property and it is therefore a regulated transaction) or seek 'Consent to Let' from your existing mortgage provider. Otherwise this will likely void your current mortgage terms and conditions.

It is also worth noting that you may need to amend you home insurance, to ensure the provider is comfortable with the property being let out. (Your existing provider may be able to simply switch you to another policy or you may need to switch provider).

I hope this is helpful, but please do let me know if you have any questions. 

Best regards 

Nathan Cole



Nathan Cole CII (MP)

Mortgage Consultant at Private Finance

Office: +44 (0)1743 211 855

Email: nathan.cole@privatefinance.co.uk

Website: www.privatefinance.co.uk


Link to post

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Create New...