Finding a mortgage for a property you plan to let to family can be a challenge. This is because there is a greater consumer protection framework so some lenders choose to shy away from the additional paperwork. Never fear though as Niche Advice have a number of excellent Family Let Mortgages to choose from.
Family Let Mortgage Products
- Let the property to members of your family.
- The rent can be under market value but must meet the lenders minimum requirement.
- There must be a formal tenancy agreement in place.
- Help out your family whilst retaining your asset.