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.
Top Five Questions relating to Perenna consent to lease
- Hi, I have a mortgage on a flat with Perenna and I am thinking about leasing the property out. Can I do this without changing to a buy to let or receiving consent to let from Perenna?
- We are a newly married couple and we found a house in Brent that we like and wish to take out a mortgage with Perenna. The issue is that I am pregnant and about to give birth any time soon as I am on the last few weeks of pregnancy. This wouldn't make it impossible for us to move straight away so we are thinking to keep living with our parents for about six months. Meanwhile, if we get this property, we can let it out. I was just wondering how will that work out? Are we likely to be given consent to let by Perenna
- I have a home loan with Perenna on a property and I would like to let it out and rent an alternative property as a result of changes in personal circumstances - I want to move to a new location, and to live in a bigger property with my fiance. I sought consent to let and recently got reply with a refusal as they determined that I want to invest. I as at a loss as to what to do next. I am now at risk since I am already committed to the new property and am faced with paying both the Perenna mortgage and rent, which could expose me financially. The matter is urgent as a prospective tenant at the ready
- I have had a Perenna mortgage for less than a year but I discovered this week that I will soon lose my job. I would like tips on securing consent to let by Perenna
- Please can you tell me the circumstances under which Perenna will refuse a request for consent to let?
- I want to take in lodgers for my garden flat in Haringey which I live in. My mortgage is with Perenna. How do I go about getting a consent to let?
- I hope to buy a new house but can't afford to sell my existing property with a Perenna mortgage. Do you know acceptable terms for Perenna to give consent to let? Is getting married and having kids an acceptable reason to make the request?
- I am intending on relocating inside the next 6 months and want to lease my house out. My interest rate is fixed with Perenna. I am concerned that a 1% increase would be too much if that was a condition of getting consent to let
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in in addition to the above Perenna consent to let Advice
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
Where you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to notify them could trigger your insurance becoming null and void. 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 trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to advise your co-owner of your intention to let could result in them commencing legal proceedings 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