I need some brilliant advice from all you knowledgeable real estate gurus. I'm just about to purchase my first house which will be my principal residence. I'm a single dude and i'm thinking of renting out 2 spare rooms right away. I wanna know if this is legal with the banks?? I think rental/revenue properties are handled differently from getting mortgage for a principal residence. Can anybody please let me know if i'll be doing anything illegal by renting or do i need to inform the bank that though it's my principal home i'll be renting rooms out????
Thanks!!
Thanks!!