Help: Landlord Needs Consent to Let before we can move in - Foxtons

Mutton_Geoff

Svante wrote: »

Could you please elaborate on this?

They seem very genuine but perhaps inexperienced. Since Foxtons is willing to give me a full refund incl. All agency fees, surely they don't stand to gain anything?

We are back to viewing again nonetheless, however we really do love this flat...

Amateur landlords are often people who are forced into letting properties. Plenty of examples:


1. Parents die or go into care, leaving house. Whilst it's all sorted out, it's rented out, especially for the period of initial grief where it would be out of the question to sell "mum & dad's house". Clock forward a year, probate sorted, hearts strengthened, "let's convert this to cash". House on market, tenant on street.


2. Single person buys flat. Lives there a year or two. Meets someone, moves in with partner, keeps flat as escape route "just in case relationship doesn't work out", rents it out in meantime. A year later, relationship good, baby on the way, need bigger house, let's consolidate. Flat on market, tenant on street.


3. Person thinks "I'll get on BTL bandwagon, everyone is making a packet, friend in office told me". Buys place, spends tidying up for rental, pays agents fees, tenants come and go, cost of in between mini refurbs mounting up, unexpected bills. You move in as tenant just as their fixed interest period comes to an end. Remortgaging costs a bit higher than they think. "Sod it, this game is harder than I thought". Place on market, tenant on the street.


etc etc

MonkeyDr

FWIW when I first let my flat my lender was HSBC and I had to apply for consent to let. I recall that they would not let me apply until within a couple of weeks of the start date of the tenancy (and possibly not until tenancy agreement was sorted). I thought it was odd and annoying (as a bit of a catch-22) but it did then happen quickly (within a week or 2?). Did not have to delay start of tenancy.

Sounds like your LL is trying to do everything by the book and has got caught up a bit. Incredibly frustrating. Happened to me once as a tenant too - well tenancy delayed a week, don't know why. Landlord paid to out us up somewhere else for a week; has that been explored?

RiversTam

We have done this with HSBC just a few months ago. We got the paperwork through in about 10 days.

Our agent wouldn't list our property without the paperwork - so surprised it happened

steampowered

As the deposit and rent was taken, it sounds like you have a legally binding contract.

The landlord should have got consent to let BEFORE taking rent and agreeing a tenancy start date.

If a start date was agreed, the landlord is now in breach of contract and should pay all your expenses, including your storage costs and the extra cost of any emergency accommodation.

You have absolutely no idea whether HSBC will grant consent to let or how long it will take. There is a good chance they will require the landlord to take a remortgage at higher cost. I suspect that would take longer than 2 weeks but it depends on how far the landlord has got in the process.

I would start looking for another flat. If you find one before the consent comes through ask for your deposit, rent and fees back. Then ask for your storage costs to be paid - and you can easily bring a small claim against the landlord if necessary.

Svante

Thanks for all the input everyone!
Happy to say the consent came through yesterday and we're able to move in today, right in time for our stuff to not have to be put up! So lucky, it's been a crazy week...

Guest101

Mutton_Geoff wrote: »

Amateur landlords are often people who are forced - with a gun or a knife? into letting properties. Plenty of examples:


1. Parents die or go into care, leaving house. Whilst it's all sorted out, it's rented out, especially for the period of initial grief where it would be out of the question to sell "mum & dad's house". - why does it have to be rented? Clock forward a year, probate sorted, hearts strengthened, "let's convert this to cash". House on market, tenant on street.


2. Single person buys flat. Lives there a year or two. Meets someone, moves in with partner, keeps flat as escape route "just in case relationship doesn't work out", rents it out in meantime. - why does it have to be rented? A year later, relationship good, baby on the way, need bigger house, let's consolidate. Flat on market, tenant on street.


3. Person thinks "I'll get on BTL bandwagon, everyone is making a packet, friend in office told me". Buys place, spends tidying up for rental, pays agents fees, tenants come and go, cost of in between mini refurbs mounting up, unexpected bills. You move in as tenant just as their fixed interest period comes to an end. Remortgaging costs a bit higher than they think. "Sod it, this game is harder than I thought". Place on market, tenant on the street. - sadly this happens too often


etc etc

No-one is forced to be a landlord.

agrinnall

Svante wrote: »

On the other hand they have opted for Foxtons full property management, which I've read online is quite decent...

I think you've been reading too much of Foxtons' own publicity, independent reviews show a quite different picture. Hopefully now you're in you'll be fine, but don't be too surprised if there are a few issues in the future.