Need Help?
Need professional advice for your consent to let with Landbay Partners Ltd? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Landbay Partners Consent to Lease Example Support Desk Enquires
- If I decided to let out my one bed flat with consent to let from Landbay Partners, what evidence would be required of the letting? If after twelve months I decided to let it on a series of holiday term lets, do I still need to provide proof to Landbay Partners, or will they leave me alone as long as i keep up with the payments? For instance if I sublet the room individually at a later stage, is there any reason for Landbay Partners to be informed and would they take issue?
- I'm looking to remortgage my studio flat, currently tenanted under consent to let from Landbay Partners, onto a BTL rate as we are unlikely to be moving back into it now since we have our family home. So, I'm assuming I need a specialist broker for this and I am not really familiar with what is available in this area. Are you able to recommend a good broker service specialising in BTL?
- I’ve a fixed mortgage with Landbay Partners (with a little under eighteen months remaining) but due to redundancy want to move away from NW London (actually to a new job in Poland) and so want to rent the property out. We are keen to avoid the expense of an early redemption charge and understand that some lenders are content to issue this 'consent'...what is the policy adopted by Landbay Partners?
- My husband had a conversation with someone at Landbay Partners on Monday concerning consent to let. We are awaiting a returned call. We have put an offer in on a studio flat that has been provisionally accepted so would like to know how likely it is that we will obtain consent to let from Landbay Partners?
- My fiance and I were wondering if it's possible if you own one property with consent to let from Landbay Partners, to purchase another with a homeowner mortgage to live in. Then once the consent expires on the first property, to switch to buy to let or sell it?
- I am looking for consent to let for my house as I am moving out for six months currently fixed Landbay Partners mortgage with three years which is up in June next year.
- We've spoken to someone at Landbay Partners about switching our existing homeloan to consent to let (the current 2 year fix expires in spring 2016). Can I just confirm that I need to formally put the request in writing setting out our change in circumstance to Landbay Partners? Where do I need to post it to?
- Will Landbay Partners grant consent to let my home? I currently have a residential mortgage, never been in arrears and have been with Landbay Partners for about six years now. What fees am I likely to incur
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supplemental the above Landbay Partners consent to let Info
Tax and Legal
There may be various tax and legal (from restrictions on title, lease prohibitions to planning issues) implications when letting out your property. You should always seek the advice of a solicitor and accountant before letting out your property.
Insurance
One thing to remember when arranging a consent to let mortgage with Landbay Partners is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your regular residential buildings insurance. As a minimum you should ensure that you are covered for any third party liability in respect of injuries to your tenant whilst at your property
Leasehold properties
If your property is leasehold, the provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in breach of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to advise your co-owner of your intention to let could result in them commencing legal proceedings against you. Be sure to obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Landbay Partners