Sub-letting of your property is generally not permitted. However, there may be certain situations where we would agree to this taking place for an agreed period of time, usually up to a maximum of 12 months.
Criteria that would need to be met include:
- the reasons for the sub-let should be genuine and unavoidable and not for speculation or gain.
- the person to whom the property is sub-let must also satisfy Home’s shared ownership criteria.
- the terms of the sub-let would be for a fixed period, after which you would need to move back in or notify us of your intent to sell the property.
- permission from the mortgage lender (where applicable) would also be required.
- you would remain responsible for the rent due on the property, and all payments must be up to date before and during the sub-letting period.
Examples of circumstances where approval is likely to be given are:
- the need to work away from home on a temporary basis.
- attendance at education/training away from home.
- caring for a sick relative.
- financial or market circumstances delaying the sale of a home.
A full copy of Home’s subletting policy is available upon request.