The rise in popularity of sites such as Airbnb has been incredible,but renting out your house is likely to be a breach of your mortgage terms, meaning charges or rate rises – or worseIt was one of the budget’s most eye-catching giveaways: a tax break for people who employ websites such as Airbnb to rent out their home. But a Guardian Money investigation has found that many people who might be considering hosting Airbnb guests in the wake of George Osborne’s announcement could land themselves in a whole heap of disaster with their mortgage lender.
We found that in some cases borrowers might be hit with a fee or face a higher mortgage rate. In others, and the consequences could be far more severe,with some homeowners potentially risking a demand for the instant repayment of the whole mortgage or even, in theory at least, or being threatened with repossession.
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Source: theguardian.com