Banks force accidental landlords to evict tenants
Temporary consent to let permits are expiring and leaseholders cannot remortgage
Accidental landlords who own homes with cladding are being forced to evict their tenants and move into their flats, as their “consent to let” permits expire.
Lenders typically allow for properties to be let without a buy-to-let mortgage for 12 months or to the end of the term. Now, many of these are coming to an end and lenders have told leaseholders they must either move in themselves, or switch to a buy-to-let mortgage. But this is impossible without an external wall safety (EWS1) form, which banks need to lend on a property with cladding.