Renting a room to a lodger!

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    Renting a room to a lodger!

    Hello,

    I have a normal home mortgage and current live in my main home with my dad. Dad moved in last week and is renting a room off me, he pays me £300 monthly. By law i am aware that this is allowed legally.

    I wanted to know in this situation, would i have to inform my mortgage lender that i am renting a room to a lodger/my dad and also would i have to notify my home insurance provider (normal home insurance).

    All opinions would be much appreciated as i dont know what to do.

    Thanks

    #2
    Mortgage - no
    Insurance - yes (change of risk)
    Tax Man - yes (but shouldn't be extra tax)

    Comment


      #3
      Originally posted by salagadera View Post
      Hello,

      I have a normal home mortgage and current live in my main home with my dad. Dad moved in last week and is renting a room off me, he pays me £300 monthly. By law i am aware that this is allowed legally.

      I wanted to know in this situation, would i have to inform my mortgage lender that i am renting a room to a lodger/my dad and also would i have to notify my home insurance provider (normal home insurance).

      All opinions would be much appreciated as i dont know what to do.

      Thanks
      Well he's your Dad! If you want to move a family member in then that's what you do the financial aspects do not really come into this. Call him a lodger by all means but really it's family moving in with family.

      No don't bother with your mortgagor.

      I think your insurance would probably cover family members.
      I offer no guarantee that anything I say is correct. wysiwyg

      Comment


        #4
        See http://www.lodgerlandlord.co.uk/2010...mary-of-posts/

        Comment


          #5
          Originally posted by jta View Post
          No don't bother with your mortgagor.
          Er, OP is the mortgagor!
          I'd notify the mortgagee, even if this is not essential. It's better to report unnecessarily than to be found out.
          JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
          1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
          2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
          3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
          4. *- Contact info: click on my name (blue-highlight link).

          Comment

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