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Landlord doesn't have buy to let mortgage?
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Comments
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19lottie82 wrote: »And wait for the S21 to land on the doormat!
1) Not the OP's problem.
2) Renting through an agent does not mean that a LL will definitely be paying tax on their rental income? How did you work that out?
Yes, MMP should also put a line in their signature, saying, listening to my advice can quite often result in getting your notice from a landlord and getting one of those just before Christmas will really cheer you up.0 -
MissMoneypenny wrote: »Yet that's not what the Association of Letting Agents are saying on their website (see the link and quote in the post above).
It does matter what ARLA says, it is what is in the insurance contract/terms & conditions that matters.0 -
Yes, MMP should also put a line in their signature, saying, listening to my advice can quite often result in getting your notice from a landlord and getting one of those just before Christmas will really cheer you up.
You seem to be missing the point. Tenants' should be avoiding landlords who don't have consent to let.RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
I'm happy to be corrected if someone can find me a landlord's insurance policy schedule which says the cover is invalidated if the policyholder does not have consent to let or a buy to let mortgage.
Like I said, I couldn't find one...I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
kingstreet wrote: »I'm happy to be corrected if someone can find me a landlord's insurance policy schedule which says the cover is invalidated if the policyholder does not have consent to let or a buy to let mortgage.
When you sell those policies to people: as long as you're happy to put in writing that they are definately covered on a claim with landlords insurance even though they don't have consent let, I'm sure your clients will be happy too.RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
MissMoneypenny wrote: »One of the landlords on here said this about their insurance; but when I wrote to that company and asked if they would pay out on a claim if I didn't have consent to let, they didn't confirm that.
Serious question .... don't you have anything better to do with your time than writing to insurance companies you aren't a customer of to ask about hypothetical situations you will never be in?“Don't do it! Stay away from your potential. You'll mess it up, it's potential, leave it. Anyway, it's like your bank balance - you always have a lot less than you think.”
― Dylan Moran0 -
Thanks for that.
I do want to make it clear though before anyone thinks it, I wasn't going blackmail the ll
My deposit is with the dps, I have been waiting for the agents to get back to me re: quotes. Waited 10 days with no answer, it's the never ending quote scenario but no action again. So this morning put in my claim on the dps website.
I actually live opposite my old house now, and noticed they sent a guy round to do quotes a couple of hours ago and had a property viewing not so long ago.
God I sound so nosey!! Honestly I am not that bad, I work at home so my eyes wandered from the screen and I noticed the lights on!
And yes full inventory done before occupancy.
in your situation, if the LL starts playing silly !!!!!!s about returning your deposit, you should have absolutely no qualms about using any information as leverage :rotfl:0 -
Welshwoofs wrote: »Serious question .... don't you have anything better to do with your time than writing to insurance companies you aren't a customer of to ask about hypothetical situations you will never be in?
It only takes seconds to write an email. You might have heard of the saying "If you want something done, ask a busy person"?
I hate seeing consumers getting ripped off. Many have no idea that the insurers might not pay out if there is no consent to let.
Getting a signed letter from your insurers stating that they will definately pay out on a claim even though you haven't got consent to let the property, is a much safer. We all know how insurers look for ways not to pay out on a claim.RENTING? Have you checked to see that your landlord has permission from their mortgage lender to rent the property? If not, you could be thrown out with very little notice.
Read the sticky on the House Buying, Renting & Selling board.0 -
MissMoneypenny wrote: »I hate seeing consumers getting ripped off.
It only takes seconds to write an email. You might have heard of the saying "If you want something done, ask a busy person"?
It's a saying that has absolutely no grounding since most of us are actually too busy.
By the way - much of the advice you gave in this thread is utter !!!!!!
“Don't do it! Stay away from your potential. You'll mess it up, it's potential, leave it. Anyway, it's like your bank balance - you always have a lot less than you think.”
― Dylan Moran0 -
MissMoneypenny wrote: »Yet that's not what the Association of Letting Agents are saying 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/in...ngs-insurance/
That's a load of rubbish, you've had all the relevant data about this and asked to provide the details of an Insurer who stipulates you must have consent to let for a landlords policy to be valid. You've not been able to and bearing in mind Insurance is basically a contract how the Insurers would enforce a condition of the policy that is not actually in the policy.0
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