This is a shared ownership together with the local council, Fulham and Hammersmith. Im the majority owner with 69,73% and the council owns the rest.
Its clearly stated that Im not allowed to sublet.
I have asked the council directly, however they couldnt give me an answer on what would be the consequences of going ahead in either case.
Hi Jo, thank you for your answer.
This information I do have, what I ask is what the penalties could potentially be from the Council (not the Landlord or lender as we have the permission from them to sublet the flat)
Could not see any contractual penalties from the and when I spoke to the council, they could not give me an answer either. Hence, what is the worst thing that can happen: I get fined? I have to sell my Shared ownership flat? Any penalties or other breaches of landlord regulations?
I am prepared to give the council 30% of the rent (proportion to their ownership) if that is what it takes.
I have the consent from the landlord and my mortgage lender, but since its a shared ownership apartment the council is the co-owner, owning 30% of the lease and they do not give a consent to let.
The Landlord isnt the co owner, its the council of fulham and Hammersmith.
As per above:
70% owned by me
30% owned by the Fulham and Hammersmith council (Under the shared ownership scheme: http://www.lbhf.gov.uk/Directory/Housing/Home_ownership/homepage.asp
The Landlord of the main lease is St George's PLC
I have consent to lend from St George's and from my Mortgage provider but I do not get it from LBHF.
Again, my question is what would the penalties for the "Breach of Lease" linked with not receiving the consent to let from LBHF?
Will they fine me? Will they cancel my lease and I will loose my 70% share? Something else?