A first-time buyer can rent out their property, but not automatically. Most first-time buyers purchase using a residential mortgage, and residential mortgages carry a condition that the property must be used as the borrower's main home. Renting it out under those terms without permission breaches the mortgage agreement. There are three legitimate routes to letting out a first-time buyer property: obtaining consent to let, remortgaging onto a buy-to-let deal, or paying off the residential mortgage entirely. Owners who find these routes too restrictive, too slow, or simply not worth the cost sometimes look at a direct sale instead, and searches...
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