UK Landlord Forum / Life

Hi all,

I am a new landlord, having got consent to let out my house from Natwest. Been lucky and got great tenants who's 12month assured shorthold agreement ends in March. I'd like them to stay and they'd like to stay but it says in the Natwest T&C's I can only have one shorthold tenancy agreement.

Does anyone know what options I have for giving the tenants a new contract, without breaching the consent to let from Natwest?

Thank you

Jay

Forgive me if I've misunderstood, but does this just not mean that you will need to re-apply to your Lender to extend the CTL period? Which should be a breeze as they've already provided it to you... or they may now want you to transfer your mortgage to a BTL offering they may have?

I have a CTL with my Lender - it's not indefinite, I have to keep the Lender updated with what I'm doing with that property, so I send them an email saying "nothing has changed" they usually reply saying "Your CTL period is extended until XX YYY ZZZZ".

Hi Jay,

A tenant can't have two tenancy agreements for the same property at the same time- so you really have no problem here. Just start a new tenancy when the previous one expires, and then you'll still only have one tenancy agreement.

Quote from: Hippogriff on November 11, 2014, 10:45:52 AM
Forgive me if I've misunderstood, but does this just not mean that you will need to re-apply to your Lender to extend the CTL period? Which should be a breeze as they've already provided it to you... or they may now want you to transfer your mortgage to a BTL offering they may have?

I have a CTL with my Lender - it's not indefinite, I have to keep the Lender updated with what I'm doing with that property, so I send them an email saying "nothing has changed" they usually reply saying "Your CTL period is extended until XX YYY ZZZZ".

Oh, maybe I misunderstood then!

I assumed it was a clause to prevent more than one tenancy agreement at the same time e.g. to prevent HMO's

Quote from: propertyfag on November 11, 2014, 10:47:01 AMOh, maybe I misunderstood then!

No, maybe I did... the OP needs to let us know.