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Abbey Hostage - Consent to Let OR Buy to Let
adime
Posts: 1 Newbie
We took out a residential mortgage with Abbey. Close to completion date, they asked for a additional documentation because of which i had to postpone my completion date and extend my exsiting tenancy agreement so that in worst case scenario (purchase does not go through) we have somewhere to live.
Subsequently we were able to complete the purchase, however, not able to occupy the property as we have to see out our tenancy agreement.
We contacted Abbey to obtain a consent to let the property till we cannot move in. This was rejected on the grounds that we do not meet their criteria of having made 6 successful mortgage payments. We then requested them to move us to a Buy to Let mortgage, but that request was declined as well.
Are Abbey within their rights to refuse both Buy to Let and Consent to let? We are in big soup as we are incurring double expense on rent and interest - while we occupy only 1 house. Urgent advice needed please.
Subsequently we were able to complete the purchase, however, not able to occupy the property as we have to see out our tenancy agreement.
We contacted Abbey to obtain a consent to let the property till we cannot move in. This was rejected on the grounds that we do not meet their criteria of having made 6 successful mortgage payments. We then requested them to move us to a Buy to Let mortgage, but that request was declined as well.
Are Abbey within their rights to refuse both Buy to Let and Consent to let? We are in big soup as we are incurring double expense on rent and interest - while we occupy only 1 house. Urgent advice needed please.
0
Comments
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Buy yourself out of you tenancy.
You should not have renewed, you should have just let the tenancy go periodic. Although this advice is too late.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Of course. You applied for a residential mortgage and they agreed to that, not to anything else.Are Abbey within their rights to refuse both Buy to Let and Consent to let?
Nothing stopping your occupying the property. Just move!not able to occupy the property as we have to see out our tenancy agreement.
Presumably you now have a 'periodic' tenancy in which case you only need give a months notice form a rent day.we are incurring double expense on rent and interest
If you have signed a new fixed term tenancy (eg 6 months) why on earth did you do this??!
If so, speak to your LL. Offer to pay his expenses (adverising, tenant vetting, cleaning etc) if he'll let you out of your contract early.0
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