Consent to let was needed - but ex lied...

nancy84

Hi - posted this in another forum but not sure where it should be, so apologies if this is wrong....


I bought a flat with a partner and 18 months later he left me. It was at a time when the property market was very bad, and we decided the best option would be to let the property out until the market picked up a bit. My ex stated very clearly that he would organise everything to do with the letting (including with the mortgage provider), and only let me know if I needed to contribute to pay towards mortgage, etc.

18 months later, and my ex wants out. I'm looking to transfer the equity from my ex to my new partner so I don't lose out financially (market hasn't quite picked up enough for me). The mortgage provider have informally said they will do this and things have begun moving ahead. We've hit a massive snag though because my ex has now informed me that he didn't let our mortgage advisor know we were letting the flat out before.

I've also been informed I should have paid tax on any income from the flat, which I am now arranging to do through an accountant. However this issue with the mortgage provider could cause some serious problems. I'm thinking of approaching them and explaining how my ex misled (lied) to me about what he'd done. That said, this could still have implications on whether they'll allow me to transfer the equity and let the flat out (legitimately this time).

Does anyone have experience with this kind of situation? I feel so stupid that I just trusted my ex to sort out the letting arrangements and very let down that he lied. My new partner is helping with everything, but I really don't want him to buy into something which is going to bite us both when the mortgage provider finds out what my ex did!

Thanks for reading

Nancy

silvercar

Phone the lender on a no name basis and ask if they would in principle allow a transfer of equity and consent to let. If they say yes, then just draw a line under what's happened in the past and do both starting with a clean slate.

I suspect that asking for both at the same time could be too much for the lender and you may only get one or other. Had your ex got a three year consent to let and now you want to transfer equity it may be a whole lot easier.

Is the property tenanted at the moment? If so, asking now could put yourself in a difficult situation with your tenants. By asking the question you are alerting the lender that the property is being let.