Jump to content
House Price Crash Forum

Subletting HTB equity loan property when moving abroad with work


Recommended Posts

I'm buying a new build 1 bed flat in London from Taylor Wimpey on a Help To Buy equity loan scheme.

5% deposit
75% mortgage (most likely Barclays)
20% gov equity loan

There's a chance that I will have to move abroad with work in the near future and I was wondering if the property can be sublet in such circumstances. The gov website states that you can sublet your HTB property if your work arrangements change and if your lender agrees to it too.

Has anyone had actual experience with this or can help to understand this a little better?

Thank you in advance!

Link to comment
Share on other sites

  • 2 weeks later...
On 5/7/2022 at 12:29 PM, fhranklucas said:

The gov website states that you can sublet your HTB property if your work arrangements change and if your lender agrees to it too.

Yes you can rent out your property if for example you leave to work abroad. I have no specific knowledge with Barc but with Nationwide its called a 'permission to let'. They usually charge an extra 1% in interest however. But its not hard for NW to say yes to this. Probably less risk to them if you rent it out and continue to rent yourself somewhere abroad. I believe this request for renting has to done in writing by downloading a form and posting it in. 

Let us know how you get on.

p.s are you surrrrre you want a new build? 

 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.




×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.