Renting my property

[MarcoPoloCX]

We recently bought a house but are intending to rent it out.
Do I need to inform my mortgage lender?
Would they move me to a BTL mortgage until I reoccupy the house?
Also as we bought not long ago, would they ask for a larger deposit (as we only put down 5%)?

Yes, you should tell your lender.

Yes you need to tell your lender and there is a possibility they will insist on a remortgage on a BTL basis with larger deposit. If your plans are specifically short term then you may be ok. There are also implications for tax, insurance, safety considerations etc

You need to ask for permission. They should grant it if you have a good reason and the rent will cover 125% of the mortgage payments. Having a 95% mortgage may be an issue though, our lender will only let you rent if it is 75% or lower.

yes, you need to tell the lender. To do otherwise is a breach of the mortgage and grounds for repossession.

you also need all the right insurances, gas safe cert, deposit protection, tenant vetting, someone on call to fix things, inventory etc etc etc. And of course enough finance to make the figures work.