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We're renting our home out: do we need to inform our mortgage provider?

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Comments

  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    lynzpower wrote: »
    Im buying him one for his birthday :D :cool:

    Good idea. OH and I both cycle a lot round central London, and it's great - much faster than any other method of transport, and that amazing 9 year old sense of freedom, as well!

    OH cycles from Bloomsbury to Fulham at least once a week - 30 minutes by bike, 45 by public transport.
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • clutton_2
    clutton_2 Posts: 11,149 Forumite
    ""£200 for a gas certificate in the property"" - ????? what did they do ???

    court fees - if you have to evict a tenant it costs £150- to apply to the court for a possession order and a further £95 for a bailiffs warrant when they dont leave. Plus the "x" number of months this will take - when the tenant will probably not be paying you any rent
  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    franklee wrote: »
    Sorry to hear what happened to your friend, it's appalling. Did your friend establish if there was consent to let? I'd suspect there wasn't. If there was then the tenant should be given two months notice under ground 2 (as a minimum).

    That is why consent to let matters from the tenant's point of view. No one wants to be put in the position your friend was.

    PS As your friend wasn't given proper notice was it worth him suing the landlord for breach of contract?

    It happened to him twice in a row. The first time they got a letter there would be a repo hearing and that theyd be given at least 3 weeks notice to move out after. Not hearing anything for a while he called the court and was told theyd forgotten to send the letter and the bailiffs were coming on Monday.

    The next place he moved to he got a repo letter after the minimum term on the AST and then just handed in his notice and left. I've never heard of the courts taking any notice of a tenants AST when theyre granting vacant possession to a lender, though some lenders will rather have a tenant in and paying rent so theyre still getting something.

    I'm certainly no lawyer though so am happy to be corrected.

    EDIT - I think both landlords being penniless there wouldnt have been much point sueing them!
  • clutton_2
    clutton_2 Posts: 11,149 Forumite
    ""I've never heard of the courts taking any notice of a tenants AST when theyre granting vacant possession to a lender,""

    me neither
  • silvercar
    silvercar Posts: 49,898 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    Look at online auction listings, I've seen quite a few where they say, the property is subject to an AST ending XX date.

    See here, for example:

    http://www.eigroup.co.uk/public/searchresults.asp?src=Search

    there are a number subject to ASTs.
    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.
  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    silvercar wrote: »
    Look at online auction listings, I've seen quite a few where they say, the property is subject to an AST ending XX date.

    See here, for example:

    http://www.eigroup.co.uk/public/searchresults.asp?src=Search

    there are a number subject to ASTs.

    Its not the same. If the lender wants to take on the current tenant and the responsibilities of being a landlord, they can do. Many, I would say most, banks have no provision for this and will demand, and be granted, vacant possession by the court.
  • silvercar
    silvercar Posts: 49,898 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    Many, I would say most, banks have no provision for this and will demand, and be granted, vacant possession by the court.

    So why, having been granted possession, are they now selling the property as tenanted, rather than evicting the tenant at the time of repossession and now selling with vacant possession?

    The only reason can be that they have to acknowledge the tenancy (as they agreed to a tenancy via a BTL mortgage or consent to lease), otherwise their duty and need to obtain the best price would mean they would evict 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.
  • franklee
    franklee Posts: 3,867 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    ruggedtoast wrote: »
    It happened to him twice in a row. The first time they got a letter there would be a repo hearing and that theyd be given at least 3 weeks notice to move out after. Not hearing anything for a while he called the court and was told theyd forgotten to send the letter and the bailiffs were coming on Monday.

    The next place he moved to he got a repo letter after the minimum term on the AST and then just handed in his notice and left. I've never heard of the courts taking any notice of a tenants AST when theyre granting vacant possession to a lender, though some lenders will rather have a tenant in and paying rent so theyre still getting something.

    I'm certainly no lawyer though so am happy to be corrected.

    That's bad luck, presumably you don't know if the lender had given consent to let in those two cases?

    Consent to let does make the difference. There's loads of information on this online but for an example see here:

    http://www.thesite.org/homelawandmoney/askthesiteqandas/housingqandas/repossessionrights

    Note that it mentions notice under ground 2, this is two months notice. As this is a prior notice ground the LL should have written that he may need this in future usually by putting it in the tenancy agreement, but the requirement to have done this may be waived by the court. It is not the two months notice itself that may be waived. Without the consent to let a tenant would not be entitled to notice.
  • clutton_2
    clutton_2 Posts: 11,149 Forumite
    its faster to sell a house at auction with a sitting tenant rather than going thru the Section 21 eviction process - thats why lenders sell with sitting tenants - not thru the kindness of their hearts
  • franklee
    franklee Posts: 3,867 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    clutton wrote: »
    its faster to sell a house at auction with a sitting tenant rather than going thru the Section 21 eviction process - thats why lenders sell with sitting tenants - not thru the kindness of their hearts


    Not sure what this comment is referring to but in case it was anything to do with my previous post I'd just like to say I am not talking about a section 21 notice. I'm talking about a Section 8 notice using ground 2. This can end the tenancy during the fixed term just like ground 8 can. The various grounds are listed here:

    http://www.letlink.co.uk/letting-factsheets/factsheets/factsheet-8---claims-for-possession-the-section-8-notice.html
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