Mortgage Lender Terms

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Mortgage Lender Terms

    hi guys,

    we are letting out our house for the first time and are looking to sign up to a guaranteed income scheme with our agent. we've spoken to our lender (RBS) and a term of us letting it out is that the property is not sub-let, but it would seem that we would let our property to the agent and they would let it to a tenant to guarantee our monthly rental.

    whilst in black and white, it seems that this would conflict with the lenders terms, has anyone had any similar experiences where the lender has agreed to the agent letting it out?

    cheers
    Andy

    #2
    Originally posted by wibbleypig View Post
    hi guys,

    we are letting out our house for the first time and are looking to sign up to a guaranteed income scheme with our agent. we've spoken to our lender (RBS) and a term of us letting it out is that the property is not sub-let, but it would seem that we would let our property to the agent and they would let it to a tenant to guarantee our monthly rental.

    whilst in black and white, it seems that this would conflict with the lenders terms, has anyone had any similar experiences where the lender has agreed to the agent letting it out?

    cheers
    Andy
    Has your lender refused point blank to agree to this arrangement, or haven't you asked them yet?
    'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations

    Comment

    Latest Activity

    Collapse

    • Reply to Renting rooms
      by Luke
      Thanks , what is regarded as living in a property ?
      Do I need to spend a set number of days being there ?...
      28-01-2022, 08:34 AM
    • Renting rooms
      by Luke
      I have a three bedroom property in the U.K which I will rent out .
      I have had an enquiry from a couple and a friend
      I do not intend to live at the property
      Would it be possible just to rent two rooms to them , on the understanding they have full access to the property ?
      As its...
      28-01-2022, 06:09 AM
    • Reply to Tenant has moved partner in.
      by SouthernDave
      Defo get ready for a battle with this....
      28-01-2022, 08:26 AM
    • Tenant has moved partner in.
      by Alison Laws
      My tenant who is 4 months into her tenancy agreement has moved her partner in without permission and Im wondering can use this to issue a new tenancy agreement with his name on it. She isn't the easiest tenant and I would also like to add an agreement break to the new tenancy because of the difficulty...
      27-01-2022, 15:30 PM
    • Reply to Renting rooms
      by ExpertInAField
      I assume from your question that you would like to have them on a lodgers agreement so you could evict them with a moments notice.

      To answer this quickly, from the details you gave above, you would create an AST even if you used the lodger paperwork. By you not living there, you remove...
      28-01-2022, 08:16 AM
    • Reply to Is time more important than money?
      by Lawcruncher
      I am not suggesting it is the landlord's fault. I am just saying that, in some cases, if a tenant feels secure he is more likely to take care of a place....
      27-01-2022, 23:02 PM
    • Is time more important than money?
      by jpucng62
      Just had tenants move out of a property after 2 years. Always paid on time, perfectly pleasant young family who have now bought their own home BUT:

      House was grimy - looks like they didn't clean properly in 2 years rather than anything overtly unpleasant
      Garden was left in a mess...
      27-01-2022, 17:20 PM
    • Reply to Tenant not paying and letting agent mismanaged
      by MdeB
      That is because you have to do things properly for S21 to be valid.

      Do everything properly and the S21 is valid.
      Get one thing wrong and it is invalid. There are many things to get right....
      27-01-2022, 22:54 PM
    • Tenant not paying and letting agent mismanaged
      by Beeble
      We rented a flat out with the local branch of a national estate agent. They were charging a very low fee (that should’ve had my alarm bells ringing) and had a tenant immediately available. This was Dec2020/Jan2021 and the tenancy paperwork they sent to me was minimal.

      Tenant moved in...
      25-01-2022, 15:37 PM
    • Reply to Deducting Cleaning Costs from Deposit
      by Lawcruncher
      The requirement comes from the tenancy terms. There are various reasons why a contract term may be void or unenforceable. They include: illegal; impossible; contrary to public policy; statute forbids them to be imposed; unfair. A requirement to keep a dwelling clean and leave it it clean is none of...
      27-01-2022, 22:20 PM
    Working...
    X