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TL;DR: I want to rent my house out while I live in another country for some years. I'd like the rent to go into a stocks and shares investment, to grow. Is this allowed, in the UK?

I've been in my house a few years. I'm planning to move to Poland. I'd like to rent out (let) the house while I'm living abroad and I'd like that rent money to go into a managed investment account. Is this possible in the UK or would I be prevented from re-investing rent money because I'm living away?

I am a British citizen and currently have a mortgage on the property, but there is the possibility the mortgage could be paid off before I move away.

When I'm away I would be in Poland 100% of the time and the implications which come with that (not all of which I'm fully aware of yet.)

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    When you wrote "go into a stocks and shares investment", did you specifically mean into a Stocks and Shares ISA tax-advantaged type of investing account available to U.K. residents? The way you've written it (in small caps and without mention of "ISA") lends itself to being interpreted as just into stocks/shares generally, i.e. without regard as to the specific account type, but I think it's highly relevant if you meant to ask about that kind of account and e.g. corresponding residency requirements. – Chris W. Rea Apr 27 at 15:55
  • I don’t believe we could put any lonely into an ISA if we’re not resident in the U.K. , so no, I didn’t. I’d like to know how to put money into any investment account from a property that we own and let out while we live abroad. – Matt W Apr 27 at 18:28
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What you do with proceeds from a rental property are entirely up to you.

As long as you pay any taxes due (and there are special rules for landlords who let property in the UK but live abroad), and have a contingency fund available to pay for any issues that come up (e.g. repairs, bills when there are no tenants, decorating, refurbishment, etc), then whatever is left over is your money, to do with as you please.

From a comment:

Is there a certain type of property agent/solicitor/other that I should look to contact for this sort of thing?

I don't know for certain, but lettings agents typically ask for a bank account to pay rent into. It might be possible to nominate an ISA - however, you might just want it to be paid into a normal bank account, so you can keep hold of some of the cash for contingencies. You can then manually move the rest into an ISA. (I'm assuming you'll do all of this online.)

Should I expect to make almost no money at all from the rent or is it actually worth it?

Being a landlord can certainly be a profitable business, so long as you do your homework. There is considerable resource online and elsewhere on the matter.

Note that if you're renting out your own home, and so have a residential mortgage, you will either need permission from your current lender before letting out the property, or you will need to replace the mortgage with a buy-to-let (BTL) mortgage.

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I'd like to rent out (let) the house while I'm living abroad and I'd like that rent money to go into a managed investment account. Is this possible in the UK or would I be prevented from re-investing rent money because I'm living away?

It's completely, totally, possible and normal. 10,000s of brits do this. It is not illegal or prevented in any way.

It's completely OK whether you do or don't have a mortgage.

(If you're asking about tax implications, you'd have to ask very specific questions.)

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  • Thank you. Is there a certain type of property agent/solicitor/other that I should look to contact for this sort of thing? Also, should I expect to make almost no money at all from the rent or is it actually worth it? – Matt W Apr 27 at 15:33

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