Need Help?
Need professional advice for your consent to let with Perenna? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Sample questions relating to Perenna consent to let
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My husband and I may need to lease our Lambeth home temporarily due to me taking a sabbatical. This will be temporary but possibly for as long as 6 years. Must I notify Perenna or am I best advised to not rock the boat?
- I have just come off the phone to Perenna who have advised me that they discovered that I have been letting out the one bedroom apartment despite having a resi mortgage. I moved out a couple of years ago for career reasons, couldn't sell and so had little choice to let out my property. Do you know what the connotations will be for me not getting consent to let?
- I'm looking to remortgage my garden flat, currently occupied with tenants with consent to let from Perenna, onto a BTL rate as we will not be moving back into it now since we have our family home. So, I'm assuming I need a specialist broker for this and I am not really conversant with what is available in this area. Can you offer any advice on a good broker service specialising in BTL?
- My partner and I have a flat in Redbridge which we acquired off-plan approximately twelve years ago. As we've now got a young son we require a larger place. We've found a house in Westminster that we're going to buy and want to keep the flat as an investment to rent out. The mortgage is with Perenna and we've found a tenant who will pay rent which more than covers the monthly mortgage amount. Our question is, can we retain the repayment mortgage with Perenna so we effectively paying off our loan on the property or do we have to switch to a buy-to-let mortgage?
- I'd like to know if on the balance of probabilities Perenna will give consent to us letting out our house in Greenwich
- A work promotions now necessitates that Ibe in different countries every month and in the circumstances I wish to get to grips with the procedure for applying for consent to let with Perenna
- I am relocating for work for as long as 12 months... I was wondering if I was able to gain from Perenna consent to let the house out while abroad as I am reluctant to leave it unoccupied for that long
- I was wondering if you are able to help. I require consent to let from Perenna and would like to know if this option would be possible for me to switch to as I need to move back home to take care of my mum
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in in addition to the above Perenna consent to let information
Tax and Legal
There may be various tax and legal (from restrictions on title, lease prohibitions to planning issues) implications when letting out your property. You should always seek the advice of a solicitor and accountant before letting out your property.
Insurance
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
Leasehold properties
Should the tenure of your property be leasehold, the lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such conditions are not complied with you may be in violation of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to inform your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to obtain their consent in writing.
If you do not keep up the payments on your mortgage with Perenna your property may be repossessed