Need Help?
Need professional advice for your consent to let with Adam & Company? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Sample questions relating to Adam & Company consent to let
- I have been granted consent to let from Adam & Company for a while now but they now want to speak with me and I expect their agenda may be to rid themselves of me. Can you help?
- I am with Adam & Company and just had to apply for consent to let, but it would be useful to know if they set any conditions on the level of rental income?
- I sought consent but was refused as I did a remortgage in June but Woolwich does not give consent if mortgage is less than 6 months old. Now I am worried when 6 months is gone are they going to find some other criteria that will not be ok. On the other hand I can remortgage with Adam & Company but will they give me consent straight away?
- I purchased a maisonette in Hillingdon eight months ago and have a three year fixed rate mortgage with Adam & Company. Looking to move in with my other half imminently and would like to rent my property. Would like to be better informed as to the process.
- It is looking as though I may need to move to Miami for a couple of years, I have a house with a Adam & Company mortgage. Do I need to seek consent to let? Will they be cooperative?
- Please can you tell me the circumstances under which Adam & Company will refuse a consent to let application?
- My Adam & Company mortgage fixed rate ends in march and have to move with work soon after. What are the chances that I will be able to both refinance and get consent to let?
- I want to take in in a lodger for my three bed flat in Haringey which I live in. My mortgage is with Adam & Company. Will they grant consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in supplemental the above Adam & Company 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
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 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 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.
If you do not keep up the payments on your mortgage with Adam & Company your property may be repossessed