Summary
Q I want to rent out my house near Cardiff for the duration of next year's Ryder Cup. As I am still paying a mortgage should I tell my building society that's what I'm planning to do? A If the property is your main residence and you intend to leave the country, or simply vacate the property during the Ryder Cup while it is let, such a letting will amount to a breach of your mortgage conditions. Unless the mortgage is a Buy-to-Let mortgage, which specifically authorises renting of the property on specific conditions, such letting will not be authorised.
If it is your main residence you will obviously not have a Buy- to-Let mortgage. A further point is that it is a specific condition of a Buy-to-Let mortgage that any letting is granted on an Assured Shorthold Tenancy for a minimum of six months.See the full content of this document
Extract
The Property Doctor
Any letting envisaged during the Ryder Cup is of course a short- term let and even if your property is mortgage free you should c...
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