|
Mortgaged
Investors have a range of mortgage choices when
purchasing a property to let. If you are currently
occupying the property and intend to let it, you
must advise your bank, building society or
mortgagee that you will be sub-letting and written
permission is usually required. Some mortgagees
will charge the landlord an administration fee for
issuing a consent letter. In addition there may be a
variation in the interest rate level of the mortgage.
Leasehold
If the property is leasehold, the headlease will
specify whether or not you should gain permission
to sub-let from the freeholder or the freeholder’s
managing agent.
The freeholder or his agent will normally charge a
fee for issuing a letter of consent and in some cases
special conditions may be imposed.
Short Lets
It is recommended if you wish to Short Let that there
are no restrictions in place under the headlease that
restricts the term or type of tenancy you may undertake.
|
