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.
Recently asked questions relating to Landmark Mortgages consent to lease
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If push comes to shove what action Landmark Mortgages can take if I have rented my property without consent to let?
- I have a residential loan with Landmark Mortgages. I would like to purchase a second house and my financial adviser advised me to seek consent to let. I was under the impression that they will only accept the consent to let where it is my intention to go back to my current home. Did I get accurate information?
- Me and my wife just completed on a house in Newcastle and will be moving to Cornwall at the end of March. I have a letting agency and tenant ready. I was planning to leave everything as it stands as I'm afraid Landmark Mortgages will say I have to change my mortgage rate over to a buy to let which is not economically viable. I would like to obtain a consent to let via Landmark Mortgages but am afraid if I show my hand it would lead to no end of issues
- I have been serving in the Royal Air Force for six years and intending to purchase a home with a Landmark Mortgages mortgage. I would like to get consent to let the house to my parents. In the future I plan to reside in the property with my family when my military career comes to an end. Is this achievable?
- I have recently got married and I am in the process of buying out 100% of my co-ownership mortgage with my wife. As a result we have now been given a 90% loan to value on our house. We want to buy a larger property. Will it be possible to get a consent to let on my new mortgage with Landmark Mortgages to allow us to get a mortgage also with Landmark Mortgages for a new home?
- I have a mortgage with Landmark Mortgages on a two year fixed rate. I could have an opportunity for a teaching position in Belgium next summer. Would I be eligible for consent to let by Landmark Mortgages were I to accept this job abroad?
- Last month completed on a one bedroom apartment in Lewisham. I am first time buyer. I am moving Ireland next month, can I get consent to let from my lender Landmark Mortgages or do need to wait for at least 6 months?
- Please can you provide me with details of how to proceed with gaining consent to let from Landmark Mortgages and what, if any, cost I face.
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Important warnings to consider in in addition to the above Landmark Mortgages consent to let Advice
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
Failure to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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 violation of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Omitting to inform your co-owner of your intention to let could result in them taking legal action 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 Landmark Mortgages