Letting
Do I need to tell my mortgage lender if I am letting my house out?
Almost definitely yes – most mortgages have strict conditions stating that the house cannot be let out, except in certain circumstances, usually if it is a fixed term temporary let used, for example, if moving abroad for a short time – even then the lender must be informed and give their consent – if you want to let the house out permanently then your lender will insist on the house being remortgaged with a buy-to-let mortgage.
Other frequently asked questions
- I live in and own my house. I want to buy another house and let out this one. What should I do? You will in all likelihood need to remortgage your existing house – most mortgages prohibit ...
- My tenants are refusing to pay their rent. What should I do? We suggest you consult a solicitor experienced in landlord or tenant law as soon as ...
- What is a House in Multiple Occupation (HMO)? Under the Housing Act 2004 if a property is let and is one of the ...
- Should I try and let my house through a lettings agent or privately? Both have advantages and disadvantages Lettings agent:Can be member of an industry regulatory body – ...
- I am letting my flat out. Do I need to tell the landlord? Very much dependent on the terms of the lease – some will have a requirement ...
- My leasehold flat is starting to develop some structural problems. Can I make the landlord pay for it? Depends on:1) Location of damage2) Cause of damage3) Type of damage Remember that the landlord paying for ...
- The hallway in my building is really dirty and in a bad state of repair. What do I do? The terms of your lease will state that your landlord has a responsibility to maintain ...
- I own a leasehold flat and have just received a massive repair bill from the landlord. What can I do? Depends – the landlord is entitled to charge you for work that has been done ...
