Property News · April 2, 2016

Beware the Airbnb guests who could end up costing you your home


The rise in popularity of sites such as Airbnb has been incredible, but renting out your house is likely to be a breach of your mortgage terms, meaning charges or rate rises – or worseIt was one of the budget’s most eye-catching giveaways: a tax break for people who use websites such as Airbnb to rent out their home. But a Guardian Money investigation has found that many people who might be considering hosting Airbnb guests in the wake of George Osborne’s announcement could land themselves in a whole heap of trouble with their mortgage lender.We found that in some cases borrowers might be hit with a fee or face a higher mortgage rate. In others, the consequences could be far more severe, with some homeowners potentially risking a demand for the immediate repayment of the whole mortgage or even, in theory at least, being threatened with repossession. Continue reading…

Source : theguardian.com
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