Letting house through Lettings/Estate Agency

cherryredcutie

Hello,

I have a question about letting my house through a lettings/estate agency.

Will the lettings agency require a written permission from my mortgage lender that I have asked them if I am allowed to rent the property?

Thank you for your help!

BitterAndTwisted

Why would a sensible property-owner consider using an agent who doesn't carry out these sorts of basic checks? I'd be wondering what other things they're likely to cut corners on.

cherryredcutie

I was just wondering if it was a legal requirement for the lettings agency to check if the Landlord as the permission to rent out his property?

BitterAndTwisted

No, it's not a legal requirement. There's little regulation so absolutely anyone could set up in business as a letting-agent tomorrow. Doesn't mean that all of them are any good or work in the landlord's best interests.

If anyone is considering letting their property without Consent-To-Let from their lender they should have a very, very close read of their insurance documentation.

cherryredcutie

BitterAndTwisted wrote: »

If anyone is considering letting their property without Consent-To-Let from their lender they should have a very, very close read of their insurance documentation.

Thank you very much for the info! So even if the Landlord had a Landlord insurance (without the morgage lender knowing) he would have to have Consent-To-Let depending on what the conditions of the insurance are? Otherwise the insurance would be void I assume.

G_M

Not all lettings agents will check - or care. There are a lot of duff LAs out there.

There is no legal requirement to have CTL in the sense that there is no statutory /criminal obligation (possibly fraud?), however there is a legal requirement in that you would be in breach of your mortgage terms if you do not have CTL - breach of contract.

Your insurance may be invalid if you do not have CTL.

If you are considering this, what else have you decided to ignore, and/or what else are you not clued up about? Before starting to let, read this post and check out all the links/sources within it.

BitterAndTwisted

What makes you think that once landlords insurance is applied for the lender wouldn't find out?

cherryredcutie

Thanks very much for the info. I'm just trying to keep a friend out of trouble and geting clued up about everything, because I think he's going about letting his house the wrong way and could end up in a financial mess so I am concerned for him.