Second Property and Letting Spare Room

[Aquarius93]

Just looking for advice on this situation to understand if it will be worthwhile.

DH has recently got a new job around 1.5hrs from home. We are looking at options for him to stay near work 2/3 nights a week. We have considered whether to buy a 2 bed flat/house and then rent out the other room to pay towards the mortgage. What do we need to take into consideration on this regarding the mortgage and would they be classed as a lodger given kitchen/bathroom etc would be shared?

With regards to ownership, are we best jointly owning the property? If sole ownership, this would more likely be me as the higher earner but how would this work from a landlord perspective and with DH staying in the property?

Perhaps I’m over complicating this but would be keen to understand the full implications.

Thanks in advance.

Apart from extra stamp duty, 2nd homes are charged 100% council tax premium, so do check that. would you not be better for renting a spare room instead of purchase second home?

Yes renting a spare room is of course one of the options we’re considering. But we’re just trying to weigh everything up as this is likely to be for the long term so if purchasing a separate property is a worthwhile investment then we would.

It might work out financially but maintaining a second home and dealing with any lodger related hassles could be time consuming and hard work, so that needs factoring in too.