Need Help?
Need professional advice for your consent to let with Adam & Company International? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Adam & Company International consent to let: Q and A’s
- My property recently got consent to let on a homeowner mortgage with Adam & Company International with aim of changing to a B2L rate when the fixed term ends within the six months, so I'm uncertain if this adds to the complexity of the issue! Any advice much appreciated.
- Your view would be appreciated as to whether consent to let from Adam & Company International is the correct approach. I purchased my property nine months ago by porting a Adam & Company International mortgage product. My fixed term ended two months ago I'm probably going to be moving in with a new partner. I don't want to sell my house yet as I'm unsure of whether the new move will work out. Would it be likely that Adam & Company International would grant a consent to let based on me letting out my property on a short hold tenancy for 1-2 years and then I will commit to a B2L product or sell it?
- I have had a Adam & Company International mortgage for just over nine months but I discovered yesterday that I am about be made redundant. I would appreciate some help gaining consent to let by Adam & Company International
- I recently got married and my wife and I would like to buy a family home in the coming year, whilst keeping our one bed flat in Wandsworth we currently live in to rent out. Mortgage on the flat is with Adam & Company International. I wish to avoid putting myself in a situation with two residential properties and then be refused consent to let.
- Interested to know if if consent to let would be forthcoming from Adam & Company International in order to move back to my parents for a year or two and save the cash on the lease extension for my property?
- I am currently in the process of applying for a mortgage through Adam & Company International - I foresee that in the coming months I may decide to let out the property - how would I swap the normal mortgage to a buy to let mortgage?
- What, if any, income criteria do Adam & Company International set for consent to let on an existing standard mortgage?
- I was wondering if you can help. I do not have consent to let from Adam & Company International and was wondering if this option would be possible for me to move to as I must move back home to look after my father
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in conjunction with the above Adam & Company International 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
If you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to notify them may trigger your insurance becoming null and void. 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 lease may prohibit you from letting or require that you to have a license to do so from the freeholder. If such terms are not adhered to you may be in violation of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Failure to inform 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 Adam & Company International your property may be repossessed