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

MissMoneypenny

Ghostrider wrote: »

I personally rent my property out without having gained any consent from my mortgage company, and have done for years.


Don't be bullied by your mortgage lender, and don't be scared.

Yet ARLA (Association of Residential Letting Agents) has this warning for landlords on their website:-

Consent. It is essential that you advise and obtain consent to let your property from your mortgage lender, existing insurer and head lessee (for leasehold properties). Failure to obtain written consent from these parties may render your insurance void in the event of a claim. Sadly there have been many instances where buildings claims have been totally rejected because the insurer and or mortgage lender was not advised the property was let.

http://www.arla.co.uk/information/insurance/buildings-insurance/

If you aren't scared of an insurance claim being refused; being sued for thousands as your tenant has been injured and losing everything because you failed to be given permission to let your property, then that's your risk to take.

Ghostrider wrote: »

I'd also be interested to know of any case where this has actually happened in reality and that a tenant has been forced out of their home?

An instant interest rate rise and all back charges and fees added to the mortgage is usually the order of the day and much more profitable for the bank. They have you over a barrel; especailly in your case as you even confirmed in writing you were going to do it and gave them a start date when you started doing this (3 years ago).

Cpcompany

Hello.

I recently made a post or two about my Landlord refusing to let me claim housing allowance (Although I still put a claim in) and trying to get me to move out.

I recently downloaded the land registry to find out if my landlord is eligible to rent the place out.

According to the date, the owner is Tower hamlets Housing Association and the property is on a 125 year lease.

Am I correct in assuming that this is still a council property?

We had a council tax officer from Tower Hamlets around today as apparently the council tax is registered to a tennant who hasn't paid and no longer lives in the property. The official seemed to be totally unaware of who the owner was. So it is all a bit confusing to me.

The agent asked me to move out and said that I could skip this months rent and they would also give me my deposit back. I simply told the agent I have received no benefit.

Any help on here would be great. I will post a new topic anyway incase this isnt the place to ask for such help.

silvercar

According to the date, the owner is Tower hamlets Housing Association and the property is on a 125 year lease

For a leasehold property (generally flats are leasehold) you will see two deeds. One is the owner of the freehold and one the owner of the lease. It is confusing because you think of yourself as the tenant, but the owner of the very long lease is a tenant of the freeholder.

In this case I suspect that Tower Hamlets Housing Association own the freehold and the person that you call your landlord has the lease (possibly 99, 125 or even 999 year long lease). So you are renting from the long leaseholder.

Perfectly legal set up.

Cpcompany

silvercar wrote: »

For a leasehold property (generally flats are leasehold) you will see two deeds. One is the owner of the freehold and one the owner of the lease. It is confusing because you think of yourself as the tenant, but the owner of the very long lease is a tenant of the freeholder.

In this case I suspect that Tower Hamlets Housing Association own the freehold and the person that you call your landlord has the lease (possibly 99, 125 or even 999 year long lease). So you are renting from the long leaseholder.

Perfectly legal set up.

Thanks for the reply. Although I did actually start a thread on this topic just in case.

I am assuming I am renting from the leaseholder, but I honestly don't know. The contract has the agents name on it (She didn't explain she wasnt the owner when I signed) so until I downloaded the land registry agreements I had no idea which name the property was under.

charles_dyer

Hi Everybody,

I Want a studio apartment or flat on rent in London.

I have searched on net about famous agents in london.

I found these three different agents below --

rentals-london.co.uk
brlets.co.uk
residential-lettings-london.co.uk

Can you please suggest which among the above three will be good
and who can provide me mind blowing service.

Please Help me out.[FONT=&quot]

Many thanks.[/FONT]

Yorkie1

Start a new thread, please, charles. Your question isn't related to the topic title and could confuse this thread.

Speedygjt

Can someone clarify a point for me;
If a LL hasn't had consent from his mortgage lender, then would that mean that a fixed term contract signed by the LL and T is void?
From what i'm gatthering the LL has broken a tenancy agreement, becuase the T shouldn't be living there?
Am i corret?

prudryden

Speedygjt wrote: »

Can someone clarify a point for me;
If a LL hasn't had consent from his mortgage lender, then would that mean that a fixed term contract signed by the LL and T is void?
From what i'm gatthering the LL has broken a tenancy agreement, becuase the T shouldn't be living there?
Am i corret?

The LL/T contract would be legal and binding until such time as a Court declares otherwise.

Speedygjt

prudryden wrote: »

The LL/T contract would be legal and binding until such time as a Court declares otherwise.

Thanks for this.
I have just performed the LR check and spoke with them on the phone and indeed my LL is not registered at a different address. The LR weren't impressed.

Hmmmmm - what to do now?! I feel a little bit cheated and a little P-off!

silvercar

Speedygjt wrote: »

Thanks for this.
I have just performed the LR check and spoke with them on the phone and indeed my LL is not registered at a different address. The LR weren't impressed.

Hmmmmm - what to do now?! I feel a little bit cheated and a little P-off!

First of all I'm not sure what this information tells you. It could be that the landlord used to live in the property and has now moved out and has obtained consent to let from his mortgage provider.

In what way are you cheated?