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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Soon to be packing up as my husband and I plan to return to Australiain Month, initially short-term but potentially longer term. I have contacted Perenna to obtain consent to let out the property (we have already found tenants). The mortgage has been in place with Perenna for three years and I am up to date with payments. Perenna inform me, that even if they consent to the letting, that this will be limited consent for a period of twelve months. Do I then need to reapply?
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Are any options available to me if my request to obtain consent to lease is turned down by Perenna?
- My brother and I may be presented with an opportunity to work in a different office in the UK for a couple of months and would like to know if we can let our current apartment. It is a two year fixed rate and we are four months into the mortgage with Perenna. We have lived at the property for more than five years. The LTV is 80%. Are we likely to get consent to let from Perenna? What can we expect in fees etc
- We are looking to lease out our garden flat in Hillingdon in June. I would like some advice on what I need to do. I've just moved our Perenna mortgage to a fixed term and just need to understand what the procedure is if I plan to get consent to let.
- What is the longest period that Perenna is willing to issue Consent To Let for?
- I hope to purchase a new house but can't afford to sell the current apartment with a Perenna mortgage. Do you know the criteria for Perenna to grant consent to let? Is getting married and having kids a good enough reason to to ask for consent to let?
- Just wanted to know how to precure a consent to let from Perenna who I have a mortgage with. There is an outstanding balance of 47k. The value of flat is 220k. Property is in my name but my wife and I would like to purchase a garden flat in Tower Hamlets we have seen together. How do we go about this?
- I am currently in the process of getting a mortgage through Perenna - It is possible that in the within months I may decide to rent the property out - how would I swap the FTB mortgage to a BTL mortgage?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in conjunction with the above Perenna consent to let information
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
Failure to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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 to have a license to do so from the freeholder. If such terms are not adhered to you may be in breach of 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 taking legal action against you. Be sure to record their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Perenna