Letting your main property due to moving abroad
Discussion
Hi,
I am just reading up on being a landlord as there is a high chance I will be emigrating (most likely temporarily), but do not want to sell my house in the UK.
I understand that there is a whole host of things to keep in mind, such as annual gas safety certificate, EPC, deposits and self-assessment returns (being taxed on income in the UK whilst living in Luxembourg is also something I would love answered by the way), but my main query is what to do with my residential mortgage.
As far as I understand, it is recommended to get a buy-to-let mortgage for my house, but I have an awesome rate and would rather leave things as is. Would I b breaking the actual law or exposing myself to some sort of penalties by doing so? What are my likely and worst scenarios if I just let my house and moved away?
Thanks for your help in advance.
I am just reading up on being a landlord as there is a high chance I will be emigrating (most likely temporarily), but do not want to sell my house in the UK.
I understand that there is a whole host of things to keep in mind, such as annual gas safety certificate, EPC, deposits and self-assessment returns (being taxed on income in the UK whilst living in Luxembourg is also something I would love answered by the way), but my main query is what to do with my residential mortgage.
As far as I understand, it is recommended to get a buy-to-let mortgage for my house, but I have an awesome rate and would rather leave things as is. Would I b breaking the actual law or exposing myself to some sort of penalties by doing so? What are my likely and worst scenarios if I just let my house and moved away?
Thanks for your help in advance.
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