Subletting/2nd Home

Under the terms of the FTBI loan you are not permitted to sublet your property.  This is detailed in the buyer's charging document and mortgage deed.  There are however some circumstances the Homes and Communities may consider.  These do not include cases of financial hardship, but may include involuntary relocation with your current job or having to look after an ill relative who does not live within travelling distance.  Please note that even in these cases it is at the discretion of the Homes and Communities Agency whether they will permit you to sublet and there are certain terms and conditions that must be adhered to.

As a rule, to sublet your property you must first of all repay your loan in full. 

In addition the buyers’ charging document and mortgage deed prevent you from buying a second home.  This also means that to purchase another property you must first of all repay your loan, either by staircasing or selling your FTBI property.