Mortgage lenders insist that their consent must be given before a letting is arranged, and many lenders usually make a charge for this. You should consult with your mortgage lender at the earliest opportunity. We can, if required, provide your mortgage company with a copy of your lease agreement.

Many landlords rely on the rental income to immediately pay the current mortgage requirements. This is the most efficient method to use but can lead to problems. Rent is due for payment on the aniversary of the start date of a tenancy and this can vary throughout the month as one tenancy completes and another one starts.

Landlords should also bear in mind that it can take up to five days for us to receive rent due to delays inherent in the banking system. It can also take another five days for this money to transfer funds from 24-7 Letting to the landlord's account for the same reason.

For those landlords with DSS tenants, these payments are made 4-weekly in arrears with a cheque-run being Tuesday and Thursday of the relevant week. Again we have the same banking delay in transferring the funds to the landlord.

From this it becomes obvious that the better course of action would be for the landlord to have sufficient funds available to ensure the next mortgage payment is not reliant on rent being immediately received.

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