This is one of those questions which could go into more than one forum. I'll try here first and maybe the property investment forum if I get no response. The question is whether it's possible for two parties to buy a house between them where the house will be the PPR for one and an investment for the other (the latter receiving 2/3s of the rent)? To use a concrete example, would revenue have a problem with the following arrangement:
Two parties purchase a 4 bed house.
One party lives in one of the bedrooms, the other 3 bedrooms are rented out.
The rent from one of the rented out bedrooms is keep by the person living in the house (under the rent a room scheme).
The investor receives the rent for two of the bedrooms which is declared in the usual way for an investment property.
Has anyone experience of such an arrangement? I'm interested in whether there'd be complications getting a mortgage or dealing with revenenue. An example of where I'd imagine such an arrangement would be common would be if the investor was a parent (or parents) trying to help a child get on the property ladder.
Two parties purchase a 4 bed house.
One party lives in one of the bedrooms, the other 3 bedrooms are rented out.
The rent from one of the rented out bedrooms is keep by the person living in the house (under the rent a room scheme).
The investor receives the rent for two of the bedrooms which is declared in the usual way for an investment property.
Has anyone experience of such an arrangement? I'm interested in whether there'd be complications getting a mortgage or dealing with revenenue. An example of where I'd imagine such an arrangement would be common would be if the investor was a parent (or parents) trying to help a child get on the property ladder.