You must inform us if you are subletting your leashold property.
You need to:
- meet the terms and conditions for subletting
- provide copies of the current:
- gas safety certificate
- tenancy agreement
- provide a correspondence address or agent details and your emergency contact details
- make payment of £58
Terms and conditions
Under the terms of the lease, once you have completed your purchase you can sublet your property.
However, you must meet the following criteria if you are to satisfy the terms of the lease and our buildings insurance policy:
- There must be a formal, Assured Shorthold Tenancy Agreement with a term between the owner and the tenant. This must be of not less than six months but less than 21 years. The agreement must conform to all the appropriate legislation. If there is no agreement or the agreement is not in the appropriate form, your buildings insurance premium will be increased by 30%.
- You must supply a copy of the current signed tenancy agreement to us. You need to provide new copies each time the agreement is renewed.
- As a landlord, if your property has a gas supply you must have in place a current gas safety certificate. This needs to be completed every 12 months. You need to supply your current gas safety certificate to us.
- Money (a deposit) must be held against loss or damage.
- The owner or a bona-fide agent must manage the property. You must provide your forwarding address and daytime telephone number(s) in all cases. If you are using a managing agent to administer the tenancy, we require their name, address and telephone number. If you are managing the property yourself from abroad, you must provide an alternative address in the UK for, for example, the serving of notices and issuing of leasehold accounts. We will not send leasehold correspondence to an overseas address. You must keep us informed of changes to your contact details.
- You may not let the property for multiple occupancies. The fourth schedule of the lease states that the property is not to be used for any purpose other than as a private self-contained residential flat in a single occupation.
- You must inform us in advance if the property is to be left empty for any period. The terms of your buildings insurance policy state that the property must be ‘permanently lived in. After the property has been left empty for 30 days you will lose all cover for malicious damage, theft or attempted theft and escape of water. This can be extended, under exceptional circumstances, for up to a further 30 days for long holidays.
- Under the terms of the lease, you remain responsible for the payment of ground rent, building insurance, service charges and major works.
