Hello
I’m new to this whole landlord journey, and just about to remortgage my property to a Buy to Let as will be moving in with my partner.
The new mortgage company is asking for a tenancy agreement, however I don’t have prospective tenants in place yet. Is it acceptable to provide them with a templated agreement? It seems on open rent, I need to list the property with/without advertising in order to create the agreement.
Would appreciate any insight!
Thanks.
Just call the lender or broker to confirm what is acceptable. Each would have their own rules, though I expect that an unsigned template wouldn’t stand for anything as may not even be used.
Hi @ivynwanze1
Google ‘Openrent sample ast’ and download the sample OR tenancy agreement and send that, explaining you are buying without tenants in situ so this is just an example.
Mortgage provider may well be looking for evidence of likely/expected rental income so anything you can provide on that (rental valuations from a local agent etc) will help them, but talk to broker/provider to find out what they really are looking for
Good luck
Thank you will explore this option.
Tell the mortgage company this & ask them what they want.
no point second-guessing or asking us, as they are the ones that will decide
The tenancy agreements that will apply from 1 May havent even been written yet.
In my experience, most of the people processing mortgages have no expertise and simply tick boxes. I would send them a blank template you can find online.