View Full Version : landlord and mortgage consent question
thekaver
21-07-2010, 18:47 PM
As a letting agent Is it sufficent to have a reminder (and also self protection) in the landlord agreement that its the landlord responsibility to seek consent from mortgage company to let out?
Or would is it a necessary legal requirement for me to go the extra distance and seek proof of the consent?
jeffrey
22-07-2010, 10:19 AM
From only A's point of view, it's not a legal requirement. A reminder would suffice.
But, having said that, A ought not knowingly to invite problems...
dominic
23-07-2010, 15:53 PM
and A must act in LL's best interests, so a reminder is probably all that is required. SOme agents refuse point blank to sign an agency agreement unless they receive such consent.
If you know he does not have consent, you may want to consider an indemnity covering any losses suffered by you as a result of any breach of his mortgage terms and conditions.
Another (more LL friendly) option is for the commencement date of your agency agreement to be conditional on evidence of mortgagee consent (and any other suitable conditions). IN this scenario you sign an agreement, but state that the agency created by by it will not commence until the conditions listed [say where] are met to your satisfaction.
Powered by vBulletin® Version 4.1.12 Copyright © 2012 vBulletin Solutions, Inc. All rights reserved.