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The equity loan you received is government funding and the purpose is to provide help to first time buyers and others who could not otherwise afford to purchase a home.
You are expected to live in the property we helped you to buy as your only place of residence. Your loan agreement prohibits subletting by the owner to protect the public funds and ensure applicants are not purchasing for commercial gain.
However, you are able to take in paying guests or lodgers on an informal basis whilst you remain at the property as your sole residence.
We are willing to consider lettings in exceptional circumstances. Examples of this may be illness, family problems and job relocation for a fixed period of less than 12 months. In most cases we would expect you to have exhausted all other options, including trying to sell your property, before requesting permission to sub-let.
Each case is looked at on its individual merits and the decision will be made by the relevant Post Sales Officer. You will need our written permission.
If you want us to consider a letting request please contact below.