Property News · March 3, 2016

Is it a multiple tenancy if I rent my house to three people under one contract?


I need to let out my property rather than sell to avoid early repayment charges on my mortgage, but am only allowed a standard let, not multiple occupancyQ I am a young professional earning £40,000 a year. Two years ago I bought my first home for £167,000 and put down a 10% deposit. I spent probably more than thought I would because I was adamant that I wanted a house in one of the better areas of Birmingham. My mortgage is a five-year fixed-rate deal, which costs £870 a month. Now my girlfriend has moved to London, I have decided to move there as well. However, I cannot sell my house in the first five years of my mortgage without incurring a early repayment charge of 5% of the value of the remaining loan. Continue reading…

Source : theguardian.com
Read more…Is it a multiple tenancy if I rent my house to three people under one contract?

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