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

socrates

I think however we have established that a tenant would not know even after performing a search if they had permission or not. Unless every tenant performed a search then called the relevant lender and told them that their landlord may not have permission and could they check into it. Even then due to Data Protection the lender would still not tell them anything - so they would still be none the wiser.

I agree with your thinking behind this but how can you make it work? And how can you make it work as things stand at the moment?

TJ27

In work I have a legal obligation to contact lenders regarding certain actions that I take against landlords. So I talk to mortgage providers fairly regularly and they almost always tell me to get stuffed if I ask for any sort of information. If they don't talk to somebody who has a legal obligation to communicate with them, what chance would a tenant have?

The only way that I know to find out is to ask to see a copy of the LL's mortgage arrangements. He/she might tell you to mind your own business. You might point out that it is your business. Give it a go and see what happens.

MissMoneypenny

socrates wrote: »

I think however we have established that a tenant would not know even after performing a search if they had permission or not. Unless every tenant performed a search then called the relevant lender and told them that their landlord may not have permission and could they check into it. Even then due to Data Protection the lender would still not tell them anything - so they would still be none the wiser.

I agree with your thinking behind this but how can you make it work? And how can you make it work as things stand at the moment?

What we seem to have established is that a tenant (or prospective tenant) can safeguard themselves from being evicted with little of no notice, by ensuring the landlord has been granted permission to rent from their mortgage lender. Without it, they can thrown out fi the landlord has not managed his finances.

By going to http://www.landregisteronline.gov.uk/lro/index.html and downloading the deeds to the property for just £3, they can see informtation on that deeds such as:-

• Where the mortgage lender has the landlord listed as living.
• Who the mortgage is with.
• Any charges that are on the property.

1. A buy to let mortgage will have the landlord listed on the deeds as living at a different address to the property the landlord is trying to rent.

2. From the charges listed on the deeds, they can see if the landlord is building up his debts against the property.

Anyone is allowed to access this information from Land Registry and landlords are not protected by the Data Protection Act in this instance, Something which might be of more concern to a landlord who has something to hide, perhaps.

As has been seen on this thread and many, many others on this site, people are renting out their property without the permission of their mortgage lender. Worryingly, they are even being advised by some on this site, to not ask their mortgage lenders permission to rent!

As has also been stated on here, some landlords receive permission to rent on their residential mortgage as they are moving out of the property. The onus is them to prove to a prospective tenant that they have obtained permission to rent from their lender.

If in any doubt whether permission has been granted to rent, do not rent that property. The risk is just too great. Do others a favour and send evidence (copies of advert) to the mortgage lender. The mortgage lenders name will be listed on the deeds you downloaded.

hearts

I'll say it again don't waste your money.

MissMoneypenny

hearts wrote: »

I'll say it again don't waste your money.

It might just be the best £3 they ever spent, if it saves them from being evicted with little or no notice, because the lender did give their landlord permission to rent.

How are your rental properties doing, hearts?

TJ27

I think for three quid it's worth having a look but the document will only tell you if the mortgage IS a BTL. It will not tell you if it IS NOT. So it might be useful but not in many cases.

I often contact the building society listed on LR only for them to tell me, "Oh that was paid off years ago. They are no longer our clients." The information on the document is only a snapshot of a moment in time. Get the document if you wish but don't rely on it, or make any decisions based upon it.

hearts

MissMoneypenny wrote: »

It might just be the best £3 they ever spent, if it saves them from being evicted with little or no notice, because the lender did give their landlord permission to rent.

How are your rental properties doing, hearts?

Firstly my properties are doing fine, thanks ;-) I rent long term so not really an issue for me at the moment.

Let me explain my "waste money" comment.
If you are already in the property, then what difference will it make to you? If you are not in the property then are you going to go and check out all potential LLs before you take up their offer of rental.
Waste of time and 3 quid ;-)

Penelopa.Pitstop

I just checked my future landlord and his address is the same as the property. The flat was bought 2 months ago and was put on the market (to let) the next day after completion. He had never lived there because he currently lives in Asia. I also know that he has other flat he's letting out. So do you think he took residential mortgage for the flat I'm going to rent?

silvercar

Penelopa.Pitstop wrote: »

I just checked my future landlord and his address is the same as the property. The flat was bought 2 months ago and was put on the market (to let) the next day after completion. He had never lived there because he currently lives in Asia. I also know that he has other flat he's letting out. So do you think he took residential mortgage for the flat I'm going to rent?

Possibly, possibly not. He may have explained to the lender that his work has taken him overseas so needs consent to let in the short term. Who knows?

If he applied for the mortgage as residential without initially living in it, he has committed fraud (obtaining money by deception) a totally different case to letting out a former residential home without consent.

socrates

Miss Moneypenny - you still have not explained one thing and please answer only this question - how do you know when you pay £3 if the landlord has consent to let if the address is the same as the address the tenant is renting?