UK Property Law
Get UK Property Law Questions Answered by Experts
Thanks for your enquiry. I hope I can assist as my colleague is off line.
If the property does have a Mortgage registered against it, the owners are allowed to rent it out PROVIDED they have obtained the Bank's consent. Upon obtaining such consent, the owners would then be granted a "Buy to Let" Mortgage.
I confirm that Nationwide have "bought" all Bank of Ireland mortgages, so it makes sense that the Land Registry shows the Mortgage in favour of the Bank but that correspondence is coming from the Nationwide.
On the basis that Nationwide are writing to the owners at your address implies that they have not obtained the appropriate consent to rent the property to you. If this is the case, the danger you are in is that if the owners fall behind with their Mortgage payments and the property is repossessed, then the Court can and will also order that you vacate the property also, because in the eyes of the law your Tenancy with the owners is invalid due to the fact that no consent was ever obtained.
I hope this answers your question, and if so, I would be grateful if you could leave positive feedback.
mortgage on house dated 2004, bank of Ireland charge dated dec 2010.
Does the Charges Register show 2 mortgages then? One dated 2004 and one dated 2010?
no 1 mortgage with nationwide 2004, then a charge by bank of Ireland 2010.
moorgage with nationwide is 2003/4 bank of ireland 2010, nationwide are original mortgage..... bank of ireland involved 2010, by dates it seems to me that nationwide would not need to buy the morgtage from bank of ireland, as it already nationwide mortgage
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).