I have just got an investment home loan for an investment property, can i get a tennant in the property for?
a minimum of 6 months and then decide to live in the property myself so then it becomes my residence instead of investment property, or is that illegal as I would have an investment loan so I could buy the house instead of a normal home loan?
Public Comments
- Im pretty sure you can't live in it yourself but you can have a tenant.
- Most lenders will allow this, check your documentation, or call and ask them. Some lenders will charge a <nominal> fee for the facility - 100 Sterling is common. Similarly, lenders often allow you to rent out your home, and move on. There are even 'rent-to-buy' mortgages where you take a larger mortgage on your existing home, let it out, and buy another ?smaller? home to live in.
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