Need Help?
Need professional advice for your consent to let with Accord Mortgages Ltd? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Accord Mortgages Consent to Lease Example Support Desk Enquires
- I'm looking to acquire a garden flat in Southwark. I will only want to live there for a year, and then move into a bigger home. As opposed to selling the first flat I'd like to rent it out so that it form part of an investment portfolio. Do you know if Accord Mortgages would issue consent to let in such a situation?
- My property recently got consent to let on a domestic loan with Accord Mortgages with the intention of changing to a BTL rate when the fixed rate expires within the six months, so I'm unclear if this complications to the issue! Any guidance much appreciated.
- If a landlord chooses to rent out their property without consent to let from Accord Mortgages - what, if any implication might there be for an agent acting for the landlord?
- My husband is in the army and he has been posted overseas we would like to get something called 'Consent to let' from our lender Accord Mortgages. Can you help me?
- I was just wondering if Accord Mortgages would grant consent to let and what kind of fees, penalties and rate increase etc
- We have already let but only just realised Accord Mortgages should've been informed and consent to let sought - what's the best course of action now?
- I’m about to finish the fixed rate period of my two year fix with Accord Mortgages and move on to the current variable rate. Can you tell me whether consent to let from Accord Mortgages is likely, if there are charges, and if there conditions?
- In the event that I was successful in obtaining consent to let from Accord Mortgages, could I sell during the consent period? Is it possible that I would incur any penalties?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in conjunction with the above Accord Mortgages consent to let Questions and Answers
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
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
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 conditions are not complied with you may be in violation of your covenants under the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Failure 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 Accord Mortgages your property may be repossessed