Does it effect your mortgage?

[Leah89]

Hi everyone,

I'm looking to set up a beauty room from home which is currently my in laws house. Someone has mentioned to them that it effects their mortgage and could effect their rates? Is this true at all? It will only be me working from home on a part time basis so very small. We're part way through decorating and now had this bomb dropped on us so we don't want to go any further if this is the case! Any help or advice will be much appreciated! X

 

[Noodle]

Hi everyone,

I'm looking to set up a beauty room from home which is currently my in laws house. Someone has mentioned to them that it effects their mortgage and could effect their rates? Is this true at all? It will only be me working from home on a part time basis so very small. We're part way through decorating and now had this bomb dropped on us so we don't want to go any further if this is the case! Any help or advice will be much appreciated! X

You must make disclosure to your mortgage lender of your intention to use part of your home as a business, as some of the mortgage conditions may be restrictive on such use, or may need to be varied.

You will similarly need to tell your home insurance company, as it could affect the terms of your insurance policy and/or premiums.

I'm unsure whether or not your Council Tax is likely to be affected in any way.

Hope that helps.

 

[Leah89]

Ok thank you, I'm really hoping it will be ok, if not my only option would be to rent a room!