Need Help?
Need professional advice for your consent to let with Landmark Mortgages Limited? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Examples of recent questions relating to Landmark Mortgages consent to let
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My wife and I have a Landmark Mortgages mortgage and are are not in arrears, in gainful employment etc. Can you tell me how much the fees are and if Landmark Mortgages are likely to give us consent to let without transferring to a commercial rate?
- I have been granted consent to let via Landmark Mortgages for some time now yet they now wish to speak to me and I expect their plan will be to get rid of me. Can you help?
- My husband and I live in a matrimonial property where there exists some vacant bedrooms. We are deliberating the prospect of establishing an holiday let type business to rent rooms out on a check-in and check-out arrangement. Is this kind of thing acceptable under Landmark Mortgages’s standard 'consent to let' requirements?
- Good morning, I have consent to let my property with Landmark Mortgages and am now looking to give my tenant two months notice as I want to find a buyer. I am concerned about the property being empty once the tenant leaves and finding a buyer. I have never missed a payment on the account, is it likely that I would be able to take payment breaks pending the sale of the property?
- Interested to know if I would be able to get consent to let from Landmark Mortgages enabling me to move back to my parents for 12 months and save the cash on the lease extension for my property?
- If I were to apply for consent to let from Landmark Mortgages how long will it take to hear back?
- What is the process for getting a consent to let application form from Landmark Mortgages and how quickly can I get the consent?
- Can you tell me how much the fees are and if Landmark Mortgages usually grant consent to let without transferring to a commercial rate?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supporting the above Landmark Mortgages consent to let Info
Tax and Legal
There are numerous potential 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
You must inform your buildings/contents insurer that you are letting your property and failing to do so can render any insurance you have invalid. Especially having public liability cover is very important as it protects you in the event of a third party being injured on your property, not having this leaves you open to claims made by tenants for personal injury or damage to their possessions arising from incidents connected with your property lack of consent to rent.
Leasehold properties
Should the tenure of your property be leasehold, the lease may prohibit you from letting or require that you to have a license to do so from the freeholder. If such conditions are not complied with you may be in breach of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to advise your co-owner of your intention to let could result in them taking legal action against you. Be sure to record their consent in writing.
If you do not keep up the payments on your mortgage with Landmark Mortgages your property may be repossessed