consent to let with mortgage lender

5abi

I am new to this and looking to rent out a property that I have a mortgage on. I have spoken to the lender and they are happy to provide me with consent to let at a cost of £125. What they need is a tenancy agreement to give me the approval. I am currently living in the same property and the tenancy agreement would be a sample one that they would accept.

Now my question is, how do I go about getting a tenancy agreement? I have searched online. There are some sites that charge for it and others that offer it free. At WHSmith, they go as high as £45 for a piece of paper.

Can someone please offer some advice on where I can get a tenancy agreement that is current with all the housing laws that I can use for this to send to my lender?

Fire_Fox

Join a landlord's association, don't just become an amateur landlord. An AST won't tell you all the legislation you need to comply with. If you run a search this question has come up many times before.

G_M

Join a LL'sAssociation and get a decent AST from them.

This post will give you links to LL Associations, and lots more besides.

There are many ASTs around the internet, of considerable variation in quality.

5abi

Ok, this is a lot more than I bargained for and that post is very informative. I know you guys are going to frown on the next thing I will say.

I need a super quick short cut way to rent out my existing property as earnings from this will pay towards the mortgage of my new property.

If I can find out what I can safely do and secure a tenant for say 6 months to buy me some time to get clued up on being a responsible and savvy landlord, that would be my preference.

Properties in my area are in demand as its zone 3 London right next to a station.

Can anyone point me to an LL association in the South London district?

G_M

http://www.landlords.org.uk/in-my-area/london

http://tonybooth.hubpages.com/hub/Residential-Landlord-Associations-in-the-UK

http://www.selondonhousing.org/Category.asp?cat=569

Another skill to learn: Google!

Notmyrealname

5abi wrote: »

Ok, this is a lot more than I bargained for and that post is very informative. I know you guys are going to frown on the next thing I will say.

I need a super quick short cut way to rent out my existing property

That's simple. Take on a DSS tenant and don't ask for a deposit or ask for a low deposit. It will make your LL insurance higher but it'll get your property let real quick. And not all DSS tenants are bad. Many are normal families who are down on their luck due to the recession.

If I can find out what I can safely do and secure a tenant for say 6 months to buy me some time to get clued up on being a responsible and savvy landlord, that would be my preference.

Oh. Dear. God. You do not have time to get clued up. You have to know and abide by your statutory obligations from day 1.

Fire_Fox

5abi wrote: »

Ok, this is a lot more than I bargained for and that post is very informative. I know you guys are going to frown on the next thing I will say.

I need a super quick short cut way to rent out my existing property as earnings from this will pay towards the mortgage of my new property.

If I can find out what I can safely do and secure a tenant for say 6 months to buy me some time to get clued up on being a responsible and savvy landlord, that would be my preference.

Properties in my area are in demand as its zone 3 London right next to a station.

Can anyone point me to an LL association in the South London district?

If you want to write off six months rent, let tenants get away scott free with trashing the place, be unable to get bad tenants out for many months or end up in court for breaching legislation, crack on and research at your leisure. Professional tenants see naive or lazy landlords coming a mile off.

You MUST get the vetting process right, you MUST lodge their damage deposit, you MUST get the AST right, you MUST have a gas safety certificate and proper insurance, you MUST have a thorough inventory, these are all done right at the beginning. And many others. If you need get the property let quickly take some time off work and spend all waking hours researching the rights and responsibilities of being a landlord and all the rights and responsibilities of being a tenant.