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Illegal Tenancy

noobie247
noobie247 Posts: 120 Forumite
edited 12 October 2016 at 2:45PM in House buying, renting & selling
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Comments

  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
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    The tenancy won't be illegal. You have breached the T&C of your mortgage though so potentially Woolwhich could ask you to repay the entire mortgage although that would be quite extreme. They might just hike your rate up or ask you to evict the tenant which you won't be able to do without a mutual surrender and will no doubt cost you a pretty penny.

    Is there anything else you might have forgotten to do as a new landlord? Gas safety certificate, landlord insurance, right to rent book, deposit protection?

    See Tenancies in England/Wales: A Guide for Landlords and Tenants
  • G_M
    G_M Posts: 51,977 Forumite
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    You have rushed into this tenancy without knowing what you can/cannot do.

    What else have you not done?

    Read:

    * New landlords: advice, information & links

    I suspect the mortgage may be the least of your problems!

    What will the lender do? Probobly wack up your mortage interst rate. In theory they might call in the mortgage ie make you repay it in full which I assume would mean you'd have to sell the property.

    Difficult to sell with a tenant on a 12 month contract........
  • Marvel1
    Marvel1 Posts: 7,171 Forumite
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    Nothing to do with being honest with the lender.

    RENTING? Check your LL has permission to let that property:
    http://forums.moneysavingexpert.com/showthread.php?t=1377883

    Also may I suggest:
    Letting out your property? Top Tips from the Forum
    http://forums.moneysavingexpert.com/showthread.php?p=41155280#post41155280

    A Tenant's guide to renting:
    http://forums.moneysavingexpert.com/showthread.php?t=937335
  • noobie247
    noobie247 Posts: 120 Forumite
    edited 12 October 2016 at 2:45PM
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  • Pixie5740
    Pixie5740 Posts: 14,515 Forumite
    Name Dropper First Post Photogenic First Anniversary
    What about the rest of the things you need to provide? Does the freeholder permit subletting? Does your contents insurance cover you as a landlord?
  • noobie247
    noobie247 Posts: 120 Forumite
    edited 12 October 2016 at 2:45PM
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  • noobie247
    noobie247 Posts: 120 Forumite
    edited 12 October 2016 at 2:45PM
    .......................................
  • G_M
    G_M Posts: 51,977 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Evict a tenant with a 12 month contract?

    * is there a Break Clause in the contract? What is the wording?

    * if not, you can only ask the tenant to surrender his tenancy early - he might refuse, or ask you to pay his costs as a condition of agreeing.
  • G_M
    G_M Posts: 51,977 Forumite
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    turnbull21 wrote: »
    Does anyone think they will give the exemption to let?
    How can we know?

    We've already suggested what might happen!
  • Browntoa
    Browntoa Posts: 49,298 Forumite
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    turnbull21 wrote: »
    I have contents insurance and the building insurance is covered with the maintenance company (the flat is leasehold), and its all electric, so no gas safety certificate is needed.


    your contents insurance does do cover tenants
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