# Renting with the Help to Buy: mortgage guarantee scheme

With the Help to Buy: mortgage guarantee scheme, I have heard that you cannot rent out the property under the scheme. Is this true?

Also I have heard that it is possible that if you get a mortgage under the scheme, you can switch mortgage after a number of years to a "real" mortgage, which would allow you to rent out the property. Is this also true?

With the Help to Buy: mortgage guarantee scheme, I have heard that you cannot rent out the property under the scheme. Is this true?

Yes you cannot rent out your property to somebody else.

Also I have heard that it is possible that if you get a mortgage under the scheme, you can switch mortgage after a number of years to a "real" mortgage, which would allow you to rent out the property. Is this also true?

Yes. I don't understand what do you mean a real mortgage. Help to Buy is a mortgage scheme only.

• By "real mortgage" I meant a mortgage where you can rent out. Basically is it possible to switch mortgage from the Help to Buy after you have taken one out? – dav_i May 4 '14 at 17:14
• Generally speaking, if you want to let a property, you need a buy-to-let mortgage. If you intend to live in a property, you need a residential mortgage. If you go for the latter, and then decide to let the property, you must seek the permission of the lender - or change to a buy-to-let. – Steve Melnikoff May 5 '14 at 22:28
• Agree with @SteveMelnikoff , just to add that there may be exceptions if you are considering renting to family members. – Vicky May 6 '14 at 9:44
• @Vicky: quite right. Typically, BTL mortgages specifically exclude renting to family. For that, you may need a regulated BTL. – Steve Melnikoff May 6 '14 at 13:06
• My relatives who did this (one bought a house and rented it to another family member, for perfectly sensible reasons) were actually able to get a completely normal high street mortgage – Vicky May 7 '14 at 8:59