Officially most mortgage customers have to ask their lenders for permission to offer out their homes for short-lets, and some charge a fee for doing so.
Metro Bank has added a clause enabling its mortgage holders to rent out their property on Airbnb without its approval.
Officially most mortgage customers have to ask their lenders for permission to offer out their homes for short-lets, and some charge a fee for doing so.
Customers will be able to rent out their homes for up to 90 days per year on Airbnb or similar sites.
Paul Riseborough, chief commercial officer at Metro Bank, said: “We love what the sharing economy represents and the freedom and collaboration it encourages.
“Our focus is on making our customers’ lives as straightforward and convenient as possible and we therefore hope today’s news will give our customers the reassurance they need to jump in and take advantage of everything the dynamic sharing economy has to offer.”
James McClure, general manager at UK & Ireland Airbnb, said the company “hope this triggers further support from the mortgage industry”.
