Mortgage Express want copies of tenancy agreements
10:26 AM, 15th October 2015, 11 years ago
58
Categories:
I am puzzled as to why my lender (Mortgage Express) has just sent me a letter wanting to see tenancy agreements for two of my properties which I bought back in 2008.
Just wanted to know if anyone else has had this experience and also why would they be asking for these documents.
Many thanks
Zar
Comments
Have Your Say
Every day, landlords who want to influence policy and share real-world experience add their voice here. Your perspective helps keep the debate balanced.
Not a member yet? Join In Seconds
Login with
or
Member Since October 2015 - Comments: 10
9:59 AM, 20th October 2015, About 11 years ago
Zahir – To my knowledge paying for the property with cash and re-mortgaging straight away was within the rules at the time, everyone knew it as instant re-mortgage.The cash element, in my eyes, should be neither here nor there. If you are worried about the legitimacy of the tenancy agreement get it checked out with either RLA or NLA, if not a member would be worth signing up as they are useful organizations.
Peter – you mentioned a few times to give you a call as there is a lot going on with MX, for the benefit of the community can you shed some light on the type of things you are referring to please?
Comments: 98
10:05 AM, 20th October 2015, About 11 years ago
Reply to the comment left by “Steve Harris” at “20/10/2015 – 09:59“:
Steve. For legal reasons I can not say on here.
Member Since March 2015 - Comments: 4
10:40 AM, 20th October 2015, About 11 years ago
Reply to the comment left by “Steve Harris” at “20/10/2015 – 09:59“:
Thank you Steve
I am member of RLA and can have the tenancy agreement checked.
Member Since March 2015 - Comments: 1969 - Articles: 1
11:10 AM, 20th October 2015, About 11 years ago
Reply to the comment left by “Peter Fisher – Fixed Fee Law” at “20/10/2015 – 10:05“:
Peter, what specific legal reason would that be?
That seems to be a standard, ‘fob-you-off’ answer…particularly as the question was a very general one.
Member Since April 2014 - Comments: 986 - Articles: 2
11:12 AM, 20th October 2015, About 11 years ago
I have had a number of new mortgages and renewal mortgages over the last couple of years (Leeds, Godiva, Halifax etc). All have asked for copies of the tenancy agreement. If the property is in a fixed term they will want to see that you have issues prior notice of possible possession under ground 2. They will also want to verify that you are compliant with other T&C’s, i.e. not using a BTL mortgage to rent to a close family member or for example, asylum seekers or DSS etc. The AST also provides a proof of income. As the AST will contain personal data of the tenants, I would suggest you ask then to explain in writing how the information will be used. As you are the Data Controller of this information this is a perfectly reasonable question to ask. Ideally you already have a clause, or separate agreement, that allows you to share the personal data of tenants for the purpose of renewing or taking out mortgages.
Comments: 98
11:42 AM, 20th October 2015, About 11 years ago
Reply to the comment left by “Luke P” at “20/10/2015 – 11:10“:
Luke it s not a ‘fob off’ but I am aware of things that I can not put on here – simple as that
Member Since March 2015 - Comments: 1969 - Articles: 1
11:46 AM, 20th October 2015, About 11 years ago
But for what reason? What legal reason (as you said)?
Comments: 98
11:59 AM, 20th October 2015, About 11 years ago
Reply to the comment left by “Luke P” at “20/10/2015 – 11:46“:
Luke – simple, due to the case I am involved in for a client(s) and this being a public forum
Member Since March 2015 - Comments: 1969 - Articles: 1
12:35 PM, 20th October 2015, About 11 years ago
I have no doubt that you will tell absolutely nothing. But it was you pat-answer and ‘legal reasons’ response that you gave in reply to a very generalised question.
Member Since October 2015 - Comments: 10
1:58 PM, 20th October 2015, About 11 years ago
I’m afraid I agree with Luke, if you can’t talk about a legal on-going case in public then why would you be able to say it in private to a member on here? Does that make it legal? Also we are not asking for specifics of any case.
What about you saying the type of questions they ask and why you feel they are asking them?
If you don’t want to give anything away for free then fair enough but in the spirit of the community its best to give to receive. The response you give (call me) can make people more concerned then they need to be, and yes I know certain people do need to be concerned.