Am thinking of starting to host on Airbnb but have found out you have to have approval from insurance and mortgage lender. Anyone done this and did you encounter any problems? Was it a lot of hassle to sort out? We are with direct line for house insurance and Barclays mortgage.
Pretty much every mainstream insurance provider won’t allow it. Your insurance would be invalidated. I switched to https://www.homeprotect.co.uk as they accept vacation home rentals, Airbnb, lodgers, b&bs etc.
As for mortgage, I didn’t need to do this because I own my place outright. But if you get a valid insurance plan your mortgage lender should be fine with it. But you 100% need to tell them otherwise they will get angry.
Only UK? or does they cover other countries?
I’m unsure. My place is UK. So you would have to ask them.
I just checked and they only cover places in the UK.
Thanks for that,
just did a quick quote and its at least 3 times the price of my current insurance. This may be a deal breaker.
Yeah it was about that for me too. But I’d rather pay that then something happen and I get ****ed. but in the grand scheme of things the money you get from renting is worth it.