RENTING? Check your LL has permission to let that property.

franklee

A tenant should also be wary if official looking letters addressed to the landlord are still arriving at the tenanted property, especially if they look to come from the lender. Don't just send them on to the landlord as that simply allows him to keep operating from the rental address. Query what is going on and why before sending to the landlord or return to sender marked no longer at this address.

You can test if there is any royal mail direction by sending the landlord a card or letter addressed to his name at the rental address to check if it ends up on your door mat or his

As for that earlier comment about company names changing, it's easy enough to ask why the name has changed or do a quick google to see if it has :rolleyes:

PayDay

silvercar wrote: »

In the time that this thread has been going Land Reg charges have increased to £4:cool:

And socrates still hasn't read the first post about how to check the LL has been given consent to let.:D

socrates

PayDay wrote: »

And socrates still hasn't read the first post about how to check the LL has been given consent to let.:D

I think you will see if you look back that I was the first person to comment on it- so I must have read it :D

ashy7

In general, do mortgage lenders have a set period of time that you must reside in your property before you can ask for/be granted consent to let?

I have been in my property for 3 months, but my situation has changed and I am going to ask for consent to let. Is it likely that I will be rejected due to the short amount of time spent in the property, or is it dependant on the reason?

Thanks

silvercar

ashy7 wrote: »

In general, do mortgage lenders have a set period of time that you must reside in your property before you can ask for/be granted consent to let?

I have been in my property for 3 months, but my situation has changed and I am going to ask for consent to let. Is it likely that I will be rejected due to the short amount of time spent in the property, or is it dependant on the reason?

Thanks

Depends on the lender. Some even allow you to let straight away, provided the reason is a good one. Others will only give consent if the LTV is not too high. All depends on the lenders current policy.

ashy7

silvercar wrote: »

Depends on the lender. Some even allow you to let straight away, provided the reason is a good one. Others will only give consent if the LTV is not too high. All depends on the lenders current policy.

Thanks for the reply. We are first time buyers and put down a 10% deposit. The lender is NatWest. Let's hope it is a yes!

franklee

The message is seeping through:

Wary tenants change terms of reference on landlords
http://www.guardian.co.uk/money/2009/oct/25/tenants-landlords-references-renting-mortgages

Extracts:

If your prospective landlord won't play ball, you can at least confirm that their name matches that on the property deeds by carrying out an online search with the Land Registry, at a cost of £4.

Renting via a lettings agent registered with trade body the Association of Residential Lettings Agents (Arla), will offer tenants the best protection.

"You can't legislate against a landlord going bust but you can at least manage the risk," reckons Arla spokesman Malcolm Harrison.

"For example, a good Arla agent will check the landlord's mortgage and insurance company have been informed the property is rented."

MissMoneypenny

franklee wrote: »

The message is seeping through:

Wary tenants change terms of reference on landlords
http://www.guardian.co.uk/money/2009/oct/25/tenants-landlords-references-renting-mortgages

Extracts:
<snip>
"For example, a good Arla agent will check the landlord's mortgage and insurance company have been informed the property is rented."

What about the bad Arla agents that don't check?

I have noticed that some of the good letting agents are now stating on their websites that they need proof that a landlord has Consent to Let a property.

MissMoneypenny

silvercar wrote: »

In the time that this thread has been going Land Reg charges have increased to £4:cool:

Thanks for that. I've altered the opening post to show that charges have increased to £4.

PayDay

franklee wrote: »

The message is seeping through:

Wary tenants change terms of reference on landlords
http://www.guardian.co.uk/money/2009/oct/25/tenants-landlords-references-renting-mortgages

This is going to put the fear of god into some landlords:D

Quote from the above article.

There is nothing to stop tenants checking out landlords before setting up home in one of their properties.

A more comprehensive check, which costs £30.88, looks at a landlord's contract of employment, earnings and character references.

"This should not pose a problem for landlords if they have nothing to hide," says Entwistle. "In fact, if either party seems keen to withhold information, it should ring alarm bells anyway."