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.
Recently asked questions relating to Perenna consent to lease
- I am currently in the process of emigrating to Moscow . As opposed to finding a buyer, I would prefer to let my current property out, just in case things fail to work out and I decide to come back in one or two years. My current mortgage is with Perenna. Would I be able to refinance with another mortgage lender on a much lower interest rate then apply for Consent to Let once the re mortgage has completed?
- I have a shared ownership property in Hounslow and will be looking to buy out the rest of the property. However, within the next six months I may be working in Kenya for a short period of time so would like to know what approach Perenna take to consent to let as I am considering a remortgage with them. I am not sure if they will lend on my property but as an aside can you provide further advice on their consent to let requirements?
- I'm looking to apply to Perenna for consent to let on my existing residential property in Lambeth. I am planning to release equity from my existing house ahead of this, and making use of that money to buy a further home. I will stay in that property whilst doing it up for six months at which point I intend to sell it then move back to my existing house. Is this something Perenna will consider consent to let for or does this fall outside the standard criteria?
- Is it possible to switch a homeowner mortgage with Perenna to a consent to let. It will be less than 55% loan to value and it would alter from repayment to interest only?
- I would like to understand the requirements that Perenna set for consent to let? Are you able to help?
- My OH and I have a domestic mortgage with Perenna and are considering obtaining consent to let so that we can apply for another mortgage on another property that I own on a buy to let basis. Ahead of applying We would be interested to know the consequences of making the change and any facts that we need to be aware of.
- Do you know if there is normally a maximum loan to value amount before Perenna will consider consent to let?
- I would like to get consent to let from Perenna for a few years at which point I hope to move onto a B2L. Is this achievable
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supporting 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
Omitting 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
If your property is leasehold, the provisions in the lease may prevent you from letting or require that you to have a license to do so from the freeholder. If such conditions are not complied with 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