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
- I have a one bedroom apartment in Harrow let out which has a sixty year lease. Mortgage adviser said I should remortgage (currently with Perenna) as a buy to let instead of consent to let and release 65-70k which on top of a new mortgage based on income multiples would give me a budget of £210k. Not much about in Greenwich for me to get my own place. To extend the lease will be in region of 13k. Not sure sure whether to hold on or sell the flat?
- I would like to rent out my existing house and want to acquire a larger house for the family. I have a two year fixed mortgage with Perenna. On the basis I get the consent to let as I understand lenders are more than likely to push me towards getting BTL mortgage when the fixed term comes to an end. Could I remortgage after two years with a different lender? What ramifications does that have apart from the higher rates - would I need a higher equity portion in the property too ie lower ltv?
- My husband and I recently sorted our rates for another fixed five years with Perenna. Subsequently, I attended an interview and basically I accepted the job offer in Haringey. I'm going to rent a small flat for the family in Westminster as we don't want to sell the house and moreover we might come back within a couple of years.... We really don't know how things will go. We called Perenna but we would like also your point of view please. Is it possible to obtain consent to let in that case as we secured a fixed 5 years rate we would not want to change.
- I purchased a ground floor flat in Hackney last Summer and have a two year fixed rate mortgage with Perenna. Looking to move in with my girlfriend within the next six months and wish to rent my property. Would like to be better informed as to the process.
- I have a homeowner mortgage with Perenna and with my circumstances changing significantly in the last four months, can I apply for consent to let. What changes will affect me?
- Will Perenna want to know why I am seeking consent to let? Is it wise to inform them of my possible move overseas?
- Due to career opportunities I will be moving to Belfast and would like to rent the flat temporarily, are you able to confirm what steps I need to take in order to achieve consent to let from Perenna?
- I would like advice as to how to go about obtaining consent to let from Perenna and what, if any, fees I face.
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supplemental 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
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
If your property is leasehold, the provisions in the lease may prevent you from letting or require that you obtain the consent of 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
Failure to inform your co-owner of your intention to let could result in them taking legal action 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