UK Landlord Forum / Life

Hi there again,

Did not get much joy from my last post but I try again with another question. I am (or soon will be) one of those accidental landlords. Mortgaging my home as a buy to let to purchase another house to live in.
The BTL mortgage I am taking  has a long list of tenancy conditions to obey to and one of them prohibits renewing the AST with a periodic (month after month) renewal.  I can only renew a 6-12 month tenancy with another 6-12 month tenancy.
Does any of you know why is that? Is that current practice?  What is scaring the lender in a periodic tenancy so much so that it is part of the conditions for taking up the mortgage?
From what I have read in the forum and also in the website, the periodic agreement seemed to be a good idea a it shortens the delay for "getting out"  and gives flexibility to both parties.  I must have misunderstood something....

Someone can clarify?

Ask your Lender?

I have asked the lender through the broker and unfortunately I am none the wiser, the broker sent me packing in the direction the hypothetical letting agent (will not have one, don't want one!).  Something about being able to renew the AST only once then the need of a new AST.  It might seem a daft question but How do you renew? Can you just sign and date again the original document? What would be the legal point of doing that rather than having a new document altogether?