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RJM Law, Lawyer
Category: Law
Satisfied Customers: 3482
Experience:  LL.B (Hons)
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I bought the home with help to buy equity. Now due to my

Customer Question

Hi I bought the home with help to buy equity . Now due to my daughter school we have to shift to other part of England for 2 years . Can I rent this home. Cos I have to rent over there .
JA: Where are you? It matters because laws vary by location.
Customer: I am currently in burmingham
JA: What steps have you taken so far?
Customer: Sorry I don’t get this
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: no nothing else
Submitted: 15 days ago.
Category: Law
Expert:  RJM Law replied 15 days ago.

Welcome and thank you for choosing our service, I will be the expert assisting you with this matter today.   I appreciate this matter is important to you and I shall try to resolve it as precisely and quickly as possible for you today.

Please note; there may be delays between messages as the experts on this website all work on a third party basis and are not online full time however, I shall endeavour to respond to your question as soon as possible.  I look forward to assisting you in this matter.

Thank you.

Expert:  RJM Law replied 15 days ago.

Thank you for the question.  Sadly, the answer is probably not, you are not permitted to use the shame to fund a buy to let property (even though this was not the original intention).  However, if you contact the scheme there may be other options such as buying out the equity in the home which would allow you to then rent it out, obviously this will depend on the your financial position.   Additionally, it is important to note that if your resident home becomes a buy to let tree are further tax implications in relation to this.   Contact the scheme and see what options they offer you.

I shall provide you with a helpful link that will assist you in finding a solicitor/representative near your local area.  This will provide you with someone nearby your area who can assist you if required.

I hope this information proved helpful.  You will find a local solicitor who deals with these matters on the law society webpage which is as follows; (England) (Scotland) (Ireland)

Hopefully, I have answered your query in a way that is simple and easy to understand. If anything remains unclear, I will be more than happy to clarify it for you. In the meantime, thank you once again for using our services.

Should you require any further assistance on this matter, please do not hesitate to post a further questions for additional assistance.

Kindest Regards.