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Do I need to gets Freeholders permission to rent out my leasehold flat?
Bigbobby
Posts: 54 Forumite
I am currently living in a 1 bed flat which I leasehold and my mortgage is with Halifax. . There is a management company which deals with day to day issues.
I am planning to upsize but wish to keep my original flat. Do I need permission off the Freeholder to rent out my flat? If so would there be any issues the Freeholder would refuse me to rent out my property?
I am planning to upsize but wish to keep my original flat. Do I need permission off the Freeholder to rent out my flat? If so would there be any issues the Freeholder would refuse me to rent out my property?
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Comments
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Check your lease regarding the freeholders.
But Halifax will certainly want to know and will probably require you to change product as it will no longer be a residential mortgage.0 -
Yes, you do and probably the management's company's pemission too. You should check the terms of the lease to make sure renting is allowed. If it is, there shouldn't be a problem but the freeholder may well charge you for giving their permission.0
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That's far too definitive.lizziesmum wrote: »Yes, you do and probably the management's company's pemission too. You should check the terms of the lease to make sure renting is allowed. If it is, there shouldn't be a problem but the freeholder may well charge you for giving their permission.
Without seeing the lease none of us can say yes or no.
Read the lease.
And also:
* New landlords: advice, information & links
* Letting agents: how should a landlord select or sack?0 -
lizziesmum wrote: »Yes, you do and probably the management's company's pemission too. You should check the terms of the lease to make sure renting is allowed. If it is, there shouldn't be a problem but the freeholder may well charge you for giving their permission.
This is not necessarily so! Read your lease.
Some flats require notification to the freeholder
Some require a payment for each AST
Some have a no letting restriction
Some require nothing
I have seen all of these in properties I have bought or considered buying.
As I said before, read the lease that will have the definitive answer.0
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