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.
Examples of recent questions relating to Perenna consent to let
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I have a homeowner mortgage over my home in loc and intend to move to country for three years. During this time frame it makes financial sense to lease out my house. My mortgage provider has declined to grant me consent to let. I wish to avoid taking out a buy to let loan as it’s only a short term option that I am going away for.
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Exciting times as my husband and I will move back to Perthin Month, initially short-term but it could be longer term. I have contacted Perenna to obtain consent to let out our home in Perenna. I have had a mortgage with Perenna for 7 years and I am up to date with payments. Perenna say, that even if they consent to the letting, that this will be limited for a period of twelve months. After the year is up what happens next?
- I refinanced with Perenna recently, borrowing extra with the intention of doing a loft conversion. That plan has proved not to be possible and I now intend to purchase a 2nd property as my main home and let the old property out with consent to let. Is that likely to result in me stitching myself up?
- Our existing property in Lewisham has nearly £120K equity with a mortgage with Perenna. It's a 3 bed house in a popular area and I think it would rent easily. We are probably moving for my husband's work and were considering holding onto the house on as an investment property - should we be swapping the mortgage to a B2L product or can we get consent to let from Perenna?
- I am looking for some generic information on consent to let. I currently have a mortgage in place with Perenna. I have had licence to sublet my flat from the managing agents and they asked if I have consent to from Perenna.
- I have a mortgage with Perenna taken four months ago where I moved from another lender. Am I now able to rent my property with consent to let from Perenna as I am planning to buy another property.
- We've spoken to someone at Perenna about changing our existing homeloan to consent to let (the existing fixed rate comes to an end in june next year). Can I just confirm that I need to formally put the request in writing setting out our change in circumstance to Perenna? Where do I need to send the letter to?
- I was just wondering if there are any restrictions in obtaining consent to let on a freehold property when I have a mortgage with Perenna
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in conjunction with 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
One thing to remember when arranging a consent to let mortgage with Perenna is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your regular residential buildings insurance. As a minimum you should ensure that you are covered for any third party liability in respect of injuries to your tenant whilst at your property
Leasehold properties
If your property is leasehold, the lease may prohibit you from letting or require that you to have a license to do so from the freeholder. If such terms are not adhered to you may be in breach of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to advise 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