My building society keeps taking objection on my Airbnb listing, they keep saying things like this is a commercial activity or this creates nuisance. I want to make this legally full proof so that they stop doing this.
@Ayan780 In the UK mortgages are given to people to buy property to live in. Special (commercial type) mortgages exist for people who want to long term let properties or short term let properties. As the risk profile of each of these 3 types of mortgage is different the interest rate charged is higher and the number of companies supplying them is lower.
I suspect India is the same - You need the proper type of mortgage for the use you are making of the property.
@Ayan780 In the UK mortgages are given to people to buy property to live in. Special (commercial type) mortgages exist for people who want to long term let properties or short term let properties. As the risk profile of each of these 3 types of mortgage is different the interest rate charged is higher and the number of companies supplying them is lower.
I suspect India is the same - You need the proper type of mortgage for the use you are making of the property.