Can you rent out a property bought with a residential mortgage without converting to a buy to let? Even if the “tenancy” is informal, maybe even cash in hand?
Not me btw
Yes, I’ve been doing it with one property for 20 years. I bought it way before BTL came in to vogue so was never an option. Changed to a different mortgage in 2004 and told bank mortgage advisor but she wasn’t fussed really.
Although this would need to be the only property the buyer owns as any additional property purchase would automatically be on a btl unless there were extenuating circumstances such as going through a divorce.
And yes to tel HMRC, because if you don’t it’s likey you’ll get caught at some point.