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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Soon to be packing up as my partner and I will move back to Germanyin Month, initially short-term but it could be longer term. I have contacted Perenna to obtain consent to let out the home in Perenna. I have had a mortgage with Perenna for 5 years and no payments have ever been missed. Perenna say, that even if they grant consent to let, that this will be limited for a period of twelve months. Do I then need to reapply?
- My question does not relate to consent to let, I was enquiring as to whether you have an address or telephone number for a dedicated Perenna help desk who handle consent to let applications. Perenna has a first charge over my flat.
- My understanding is that this is a breach of Perenna terms and conditions of mortgage if I lease out my house having indicated that I intend to reside there. The hope is to redeem the mortgage after four years, by which time the property will be mortgage free, meaning I no longer require any consent to let. Perenna advised me I can overpay as much as I like during the lifetime of the mortgage. I know someone who wants to rent the property. What is the likelihood of Perenna discovering that I am not residing at the address? What are the ramifications of not seeking consent to let? From what I have read there is a possibility of Perenna changing the loan onto a BTL mortgage
- Just wondering if Perenna perform any checks when applying for a resi mortgage, I'm preferably looking to lease the property out and am unsure as to whether I should apply for consent to let. How likely are they to find out if I lease the place out?
- If we ask for a consent to let letter from Perenna will we be required to convert to buy to let mortgage? We are with Perenna and as houses are not selling at the mo and we have seen one we like we were considering letting our home out in order to acquire the new and dispose of this one if the value picks up.
- I am looking at moving abroad for work and would like consent to let from Perenna whilst I am away. Is the way forward to prepare a letter requesting consent to let and send it off in the post to Perenna? The point of renting the property isn't to make money but to keep the property in case things don't work out
- Last month I acquired a house with a Perenna home loan. However I am presently living with parents. I don't want to move in until next summer due to personal reasons. In meantime can I lease out the property with consent to let?
- My wife and I may need to lease our home temporarily due to a new job. This will be for a limited period but no more than twoyears. Should I tell Perenna or do I keep my head down?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supplemental the above Perenna consent to let Questions and Answers
Tax and Legal
There are numerous potential 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 provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such terms are not adhered to you may be in violation of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to advise your co-owner of your intention to let could result in them taking legal action against you. Be sure to record their consent in writing.
If you do not keep up the payments on your mortgage with Perenna your property may be repossessed