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Buy to let agreement required
LionKing
Posts: 446 Forumite
Hi,
I have been asked to produce a rental agreement for a self supporting property. I explained to the mortgage advisor that there was no agreemnet in place as rented to family member however for purpose of re-mortgage they do require a rental agreement.
This is fine for me to arrange. Do i need to do this via a solicitor or can i simply get an agreement signed without solicitor. I have all the required paperwork but trying to understand whether banks recognise rental agreements if not completed via solicitor involvement?
Thanks!
I have been asked to produce a rental agreement for a self supporting property. I explained to the mortgage advisor that there was no agreemnet in place as rented to family member however for purpose of re-mortgage they do require a rental agreement.
This is fine for me to arrange. Do i need to do this via a solicitor or can i simply get an agreement signed without solicitor. I have all the required paperwork but trying to understand whether banks recognise rental agreements if not completed via solicitor involvement?
Thanks!
Filiss
0
Comments
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A standard AST should be fine.
You can find them online or try WHSmiths.
The bank should recognise this, but may cough if they see that you are related to the tenant.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
I agree, an AST will be fine be it is probabley best not to tell them you are letting to a member of your family!!I am a Mortgage Adviser
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 advisers code of conduct. Any posts on here are for information and discussion purpose only and shouldn't be seen as financial advice.0
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