Sorry to hijack this but can you use a BTL mortgage if your just renting rooms out and creating a shared accommodation??

I'm only asking as this seems a good way to have better profit returns as including all bills I've seen some places I a poo area charging £300+ PCM for a room.... FFRR MY06 facelift With TDV8 Alloys Zeros/ATR's
Mantec Sump Guard, Rigid Load liner, MY10 BT upgrade.

Technically, yes this is possible, the rules for a BTL are basically that no more than 40% of the property is used for residential purposes but most lenders will place a restriction on the maximum number of multiple tenants, who would have to have an individual short assured tennancy agreement in place . Again, it really depends on individual circumstances etc...

kingpleb wrote:

Sorry to hijack this but can you use a BTL mortgage if your just renting rooms out and creating a shared accommodation??

I'm only asking as this seems a good way to have better profit returns as including all bills I've seen some places I a poo area charging £300+ PCM for a room....

depends on your mortgage company.....

i used to rent out to people on benefits..

part furnished..short term lets (6 months)...and best of all
never have a problem collecting the rent....

Thats good Hoppy

Im just thinking along the lines that as ive been looking for short lets in a house share to ensure costs are capped, i found one for £80 PW which includes 3 square meals a day

Along other lines though, some jobs that are coming up are medium term deployments over seas in some, well lets say, WARM spots of the world! but the pay is silly and means i could get a deposit together within a year for a half decent house and then rent the rooms out 1 by 1 whilst away to build up a portfolio as my own nest egg. And best of all, as they are bought outside of my turd of a marriage she wouldn't get a penny  FFRR MY06 facelift With TDV8 Alloys Zeros/ATR's
Mantec Sump Guard, Rigid Load liner, MY10 BT upgrade.

buy a gun for her,,,,,

no but seriously...good luck with it mate..