Posted on July 17, 2011.
Yong Spontak says...
Yes, but it's not because of the risk of damage as mentioned above.
It's because you will be relying on having the tenant's rental payments to pay the mortgage off.If you found yourself in a situation where you didn't have any tenants in the property for a period, then you wouldn't have this income to pay off the mortgage, and it's likely that you wouldn't be able to afford to pay because you're probably paying either rent or a mortgage on the property that you do live in.
Posted on July 20, 2011
I want to rent Out The flat I live in purpose That Have Been Told By The estate agent That I Would Need to let my mortgage provider know. Do You Think I Would Need to get a new mortgage to do this and The Monthly Payments Would Be Likely to Increase? Thanks