Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Svante
    • By Svante 13th Sep 17, 10:04 PM
    • 6Posts
    • 2Thanks
    Svante
    Help: Landlord Needs Consent to Let before we can move in - Foxtons
    • #1
    • 13th Sep 17, 10:04 PM
    Help: Landlord Needs Consent to Let before we can move in - Foxtons 13th Sep 17 at 10:04 PM
    Hi,

    We're in a very strange situation. We found a flat through Foxtons, our offer was accepted and we were all ready to move in on Monday the 11th.

    On Wednesday we get a call saying the landlord was still waiting for consent to let from our agent, he said he expected an online message any day now after filling out an online form. His lender is hsbc. It's now Wednesday (1 week since we received the call) our move in date has been delayed and we need to leave our current flat by this Saturday.

    By Friday we will need to move our personal belongings into storage. We're able to live at a friend's place until the 26th but now need to pay storage and generally are unsure about the situation, especially since there's a possibility (although the landlord says he's 99% sure they will receive the go ahead from their lender, as their mortgage broker said they'd be fine and they satisfy the criteria) that he gets denied. Both landlord and agent have said though that since this isn't our fault they're willing to refund deposit, agent/referencing fees and first month's rent we've paid fully if we decide to pull out and find somewhere else.

    My question is, how long does it take to obtain consent to let from HSBC?

    We've started viewing other flats but the one in question is really our dream flat and we are willing to wait if we know we can move in in the next one or 2 weeks.

    Also could we be getting scammed or are we being taken in some way?

    Tenancy agreement will only officially start from when we officially move in so we aren't losing any money waiting for this letter.

    Thanks for your help!
Page 1
    • saajan_12
    • By saajan_12 14th Sep 17, 2:39 AM
    • 774 Posts
    • 514 Thanks
    saajan_12
    • #2
    • 14th Sep 17, 2:39 AM
    • #2
    • 14th Sep 17, 2:39 AM
    I don't know about HSBC specifically, but few general things you can check to satisfy yourself it's not a scam and the tenancy is likely to go ahead.

    1. Has the LL been living in the property prior or were there tenants? (If there were tenants, he'd have needed consent to let already)

    2. How long has LL owned the property & had mortgage (if its less than 12 months on a residential mortgage, some lenders don't like to give CTL so early as it rings of potential mortgage fraud as the borrower arguably should have gotten a BTL if it was planned)

    3. Visit the property to see (from the street) whether anyone is living there. Is this what you expect ie. when were you told previous occupants would be moving out?
    • Svante
    • By Svante 14th Sep 17, 5:31 AM
    • 6 Posts
    • 2 Thanks
    Svante
    • #3
    • 14th Sep 17, 5:31 AM
    • #3
    • 14th Sep 17, 5:31 AM
    According to our agent and what we've seen:

    1. The landlord has been living at the property before us
    2. The landlord stated that they've lived at and owned the property for 5 years
    3. It's a flat om the 3rd floor so I can't see whether or not someone is currently living there

    Thanks!

    If anyone knows how long this process usually takes with HSBC that would be great.
    • csgohan4
    • By csgohan4 14th Sep 17, 7:37 AM
    • 3,775 Posts
    • 2,356 Thanks
    csgohan4
    • #4
    • 14th Sep 17, 7:37 AM
    • #4
    • 14th Sep 17, 7:37 AM
    best to find another property as it seems the LL is trying to have his cake and eat it, Foxton's too
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • Mutton Geoff
    • By Mutton Geoff 14th Sep 17, 8:17 AM
    • 866 Posts
    • 912 Thanks
    Mutton Geoff
    • #5
    • 14th Sep 17, 8:17 AM
    • #5
    • 14th Sep 17, 8:17 AM
    My sister has lived in rented for many years but over the last 5-6 she has got more hassle from amateur landlords deciding to sell up/change their mind about renting etc that she is forever on the move.

    My advice would be to only rent from a professional rather than accidental landlord to make sure you have better long term security.

    This is just one example where amateurs are clearly not approaching it like a proper business.
    Compensations/Refunds from Banks & Institutions - £4,165 | Stooz Profits - £7,636 | Quidco - £3,963

    All with a big thank you to Martin and MSE.com from Mutton Geoff!
    • Svante
    • By Svante 14th Sep 17, 8:54 AM
    • 6 Posts
    • 2 Thanks
    Svante
    • #6
    • 14th Sep 17, 8:54 AM
    • #6
    • 14th Sep 17, 8:54 AM
    Could you please elaborate on this?

    They seem very genuine but perhaps inexperienced. Since Foxtons is willing to give me a full refund incl. All agency fees, surely they don't stand to gain anything?

    We are back to viewing again nonetheless, however we really do love this flat...
    • Svante
    • By Svante 14th Sep 17, 8:56 AM
    • 6 Posts
    • 2 Thanks
    Svante
    • #7
    • 14th Sep 17, 8:56 AM
    • #7
    • 14th Sep 17, 8:56 AM
    This is true, they are completely new therefore could be issues further down the line.

    On the other hand they have opted for Foxtons full property management, which I've read online is quite decent... Still this situation popped up. Food for thought for sure.
    • SeanG79
    • By SeanG79 14th Sep 17, 9:38 AM
    • 853 Posts
    • 380 Thanks
    SeanG79
    • #8
    • 14th Sep 17, 9:38 AM
    • #8
    • 14th Sep 17, 9:38 AM
    As it is a flat, make sure the Landlord doesn't require permission to let from the Freeholder.

    When we approached Nationwide for consent to let, they insisted on us providing a letter of consent from the Freeholder, even though the the Leasehold Agreement clearly stated we were able to let the property. The consent to let from the bank took less than 2 weeks. Consent to let from the Freeholder took months as they kept referring us back to our Leasehold agreement that Nationwide were not prepared to take an opinion on.
    • Svante
    • By Svante 14th Sep 17, 9:55 AM
    • 6 Posts
    • 2 Thanks
    Svante
    • #9
    • 14th Sep 17, 9:55 AM
    • #9
    • 14th Sep 17, 9:55 AM
    Thanks for that info!

    I'll check with the landlord in case that ends up being HSBC answer.

    So far, they've said they need consent from hsbc to let the flat as it is stated in their mortgage agreement they are now allowed to do so. We're just over 1 week now so maybe there's still time...
    • silvercar
    • By silvercar 14th Sep 17, 11:13 AM
    • 35,891 Posts
    • 151,116 Thanks
    silvercar
    Strikes me as responsible of the landlord and the agent to make sure that everything is legal before you move in.
    • cjdavies
    • By cjdavies 14th Sep 17, 1:56 PM
    • 2,592 Posts
    • 2,536 Thanks
    cjdavies
    Could you please elaborate on this?

    They seem very genuine but perhaps inexperienced. Since Foxtons is willing to give me a full refund incl. All agency fees, surely they don't stand to gain anything?

    We are back to viewing again nonetheless, however we really do love this flat...
    Originally posted by Svante
    The "landlord" is very clueless, not even doing the most basic thing before advertising to rent it. I would walk away, this one has no idea.
    • Mutton Geoff
    • By Mutton Geoff 14th Sep 17, 2:13 PM
    • 866 Posts
    • 912 Thanks
    Mutton Geoff
    Could you please elaborate on this?

    They seem very genuine but perhaps inexperienced. Since Foxtons is willing to give me a full refund incl. All agency fees, surely they don't stand to gain anything?

    We are back to viewing again nonetheless, however we really do love this flat...
    Originally posted by Svante


    Amateur landlords are often people who are forced into letting properties. Plenty of examples:


    1. Parents die or go into care, leaving house. Whilst it's all sorted out, it's rented out, especially for the period of initial grief where it would be out of the question to sell "mum & dad's house". Clock forward a year, probate sorted, hearts strengthened, "let's convert this to cash". House on market, tenant on street.


    2. Single person buys flat. Lives there a year or two. Meets someone, moves in with partner, keeps flat as escape route "just in case relationship doesn't work out", rents it out in meantime. A year later, relationship good, baby on the way, need bigger house, let's consolidate. Flat on market, tenant on street.


    3. Person thinks "I'll get on BTL bandwagon, everyone is making a packet, friend in office told me". Buys place, spends tidying up for rental, pays agents fees, tenants come and go, cost of in between mini refurbs mounting up, unexpected bills. You move in as tenant just as their fixed interest period comes to an end. Remortgaging costs a bit higher than they think. "Sod it, this game is harder than I thought". Place on market, tenant on the street.


    etc etc
    Compensations/Refunds from Banks & Institutions - £4,165 | Stooz Profits - £7,636 | Quidco - £3,963

    All with a big thank you to Martin and MSE.com from Mutton Geoff!
    • MonkeyDr
    • By MonkeyDr 14th Sep 17, 6:29 PM
    • 102 Posts
    • 128 Thanks
    MonkeyDr
    FWIW when I first let my flat my lender was HSBC and I had to apply for consent to let. I recall that they would not let me apply until within a couple of weeks of the start date of the tenancy (and possibly not until tenancy agreement was sorted). I thought it was odd and annoying (as a bit of a catch-22) but it did then happen quickly (within a week or 2?). Did not have to delay start of tenancy.

    Sounds like your LL is trying to do everything by the book and has got caught up a bit. Incredibly frustrating. Happened to me once as a tenant too - well tenancy delayed a week, don't know why. Landlord paid to out us up somewhere else for a week; has that been explored?
    • RiversTam
    • By RiversTam 14th Sep 17, 6:44 PM
    • 21 Posts
    • 4 Thanks
    RiversTam
    We have done this with HSBC just a few months ago. We got the paperwork through in about 10 days.

    Our agent wouldn't list our property without the paperwork - so surprised it happened
    The trouble with having an open mind, of course, is that people will insist on coming along and trying to put things in it.
    • steampowered
    • By steampowered 14th Sep 17, 7:42 PM
    • 1,702 Posts
    • 1,631 Thanks
    steampowered
    As the deposit and rent was taken, it sounds like you have a legally binding contract.

    The landlord should have got consent to let BEFORE taking rent and agreeing a tenancy start date.

    If a start date was agreed, the landlord is now in breach of contract and should pay all your expenses, including your storage costs and the extra cost of any emergency accommodation.

    You have absolutely no idea whether HSBC will grant consent to let or how long it will take. There is a good chance they will require the landlord to take a remortgage at higher cost. I suspect that would take longer than 2 weeks but it depends on how far the landlord has got in the process.

    I would start looking for another flat. If you find one before the consent comes through ask for your deposit, rent and fees back. Then ask for your storage costs to be paid - and you can easily bring a small claim against the landlord if necessary.
    • Svante
    • By Svante 15th Sep 17, 11:40 AM
    • 6 Posts
    • 2 Thanks
    Svante
    Thanks for all the input everyone!
    Happy to say the consent came through yesterday and we're able to move in today, right in time for our stuff to not have to be put up! So lucky, it's been a crazy week...
    • Guest101
    • By Guest101 15th Sep 17, 12:02 PM
    • 15,143 Posts
    • 14,757 Thanks
    Guest101
    Amateur landlords are often people who are forced - with a gun or a knife? into letting properties. Plenty of examples:


    1. Parents die or go into care, leaving house. Whilst it's all sorted out, it's rented out, especially for the period of initial grief where it would be out of the question to sell "mum & dad's house". - why does it have to be rented? Clock forward a year, probate sorted, hearts strengthened, "let's convert this to cash". House on market, tenant on street.


    2. Single person buys flat. Lives there a year or two. Meets someone, moves in with partner, keeps flat as escape route "just in case relationship doesn't work out", rents it out in meantime. - why does it have to be rented? A year later, relationship good, baby on the way, need bigger house, let's consolidate. Flat on market, tenant on street.


    3. Person thinks "I'll get on BTL bandwagon, everyone is making a packet, friend in office told me". Buys place, spends tidying up for rental, pays agents fees, tenants come and go, cost of in between mini refurbs mounting up, unexpected bills. You move in as tenant just as their fixed interest period comes to an end. Remortgaging costs a bit higher than they think. "Sod it, this game is harder than I thought". Place on market, tenant on the street. - sadly this happens too often


    etc etc
    Originally posted by Mutton Geoff
    No-one is forced to be a landlord.
    • agrinnall
    • By agrinnall 15th Sep 17, 12:54 PM
    • 18,437 Posts
    • 14,148 Thanks
    agrinnall
    On the other hand they have opted for Foxtons full property management, which I've read online is quite decent...
    Originally posted by Svante
    I think you've been reading too much of Foxtons' own publicity, independent reviews show a quite different picture. Hopefully now you're in you'll be fine, but don't be too surprised if there are a few issues in the future.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

113Posts Today

2,161Users online

Martin's Twitter
  • RT @iiSteveJonesii: @MartinSLewis After watching you talk this morning about me burning £300 I got on a comparison site tonight & sure enou?

  • In or near York? This Wed the @itvmlshow Roadshow" will be at the York Food & Drink Festival - do come and say hi; St Sampsons Square 11-4.

  • It's the subtle poetry and lyricism of tweets like this that I find so endearing https://t.co/XhSKBCGyXe

  • Follow Martin