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.
Perenna Consent to Lease Example Support Desk Enquires
- My house had been tenanted for three years from 2009-2012 while living overseas. I have a letter dated January 2010 from my mortgage company granting consent to let. In the letter it clearly states that the consent to let is valid for "the remaining term of the mortgage". I have not refinanced since the letter was sent. I now plan to move house and rent out my existing house. However, my IFA has suggested that the 2010 consent to let letter may not be acceptable to the new lender Perenna for the property I intend to buy.Your view would be appreciated
- We are just about to receive a mortgage offer from Perenna for a two bedroom flat. I have applied via a broker. It is a capital and interest mortgage. I wonder what is the main criteria Perenna adopt in order to grant customers consent to let? Is consent to let based on the rental amount for a property?
- I am planning to make use of equity in my current house to purchase another property which I propose to live in whilst I refurbish. My preference is to let out my first property with the Perenna mortgage. I was just looking for a general view on whether Perenna currently allows consent to let? House is valued at £350 k with a £200k home loan in place.
- At the moment I am looking to buy my first property however, working as a consultant. I I would like to find a lender that will permit short term letting with a homeowner mortgage so that I could let the property temporarily with long periods of absence without being forced into a BTL product. Are you able to advise me on how lenders would view this and specifically the approach taken by Perenna.
- My wife and I have already let but only just dawned on us that Perenna should've been told and consent to let sought - can this be obtained retrospectively?
- Perenna - consent to let potential. Are you able to advise on the process with this lender? Do they have a minimum period prior to changing to this and a minimum LTV?
- Do you have the address to which a Consent to Let request to be sent for Perenna? Sorry about bothering you with this query.
- I am looking at an offer to work in France and have been advised that I need to let Perenna know so my mortgage is under consent to let? Please could you clarify the best way deal with this?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in further to the above Perenna consent to let Info
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
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 restrictions are not strictly observed you may be in violation of the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Perenna