TheRedWizard   10 #1 Posted June 24, 2008 We're struggling to sell our apartment, which we bought a couple of years ago.  We need to move so thought about letting the property, but the management company who look after the building have blocked us doing so.  I can understand why they would want to block 'buy-to-let' buyers, but this wasn't written into the documents when we purchased the property, only a note saying that we would need to check with the management company if we were ever to choose to let it.  Any thoughts, or are we stuck? Share this post Link to post Share on other sites Share this content via...
sham71 Â Â 10 #2 Posted June 24, 2008 ................ Share this post Link to post Share on other sites Share this content via...
blueizaac   10 #3 Posted June 25, 2008 Hi,  You will need to contact your solicitor who dealt with the sale of your propert to check all the documentation as some new builds do prevent letting of the property I'm afraid Share this post Link to post Share on other sites Share this content via...
SUZIFACE Â Â 10 #4 Posted June 25, 2008 Best advice is read the contract you have signed word for word if you did not do so before signing? Share this post Link to post Share on other sites Share this content via...
muddycoffee   10 #5 Posted June 25, 2008 If you have a mortgage on the propery, you will probably be breaching its terms if you move out and let it out. Share this post Link to post Share on other sites Share this content via...
theripsaw   10 #6 Posted June 25, 2008 Yep read your lease. Should all be in there. You will have a problem selling an apartment if the lease forbids sub-letting. Share this post Link to post Share on other sites Share this content via...
jl-heating   10 #7 Posted June 25, 2008 you cant let on a standard mortgage... a rent to let mortgage is at a higher rate and has extra legislation wrote into the contract. . Share this post Link to post Share on other sites Share this content via...
Loops   10 #8 Posted June 25, 2008 Believe me .. lots of landlords let out their properties on standard mortgages and the first they know about tenants is when the landlord stops paying the mortgage and someone contacts the courts worried they will be evicted!  I guess you should inform your mortgage company, some mortgage companies allow you to remain on the same standard mortgage, some will allow you but you have to pay a charge or others may insist on a buy to let. It varies to be honest. Share this post Link to post Share on other sites Share this content via...
Orian11 Â Â 10 #9 Posted June 26, 2008 Hi there, Â It is possible that your conveyancing solicitor did not explain the documentation to you at the time of purchase. If you have a mortgage on your property, why do you not remortgage it. You can make it a rent to let mortgage, this way you could use the money you get from the rent to pay off your mortgage. You can try the Convex conveyancing firm to remortgage your property. I have used them and they are efficient and professional. You can try them out too. Bye and all the best Share this post Link to post Share on other sites Share this content via...