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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 Lease Example Support Desk Enquires
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I have been letting out my flat with "consent to let" from Adam & Company International on a standard mortgage for the previous three years. Adam & Company International have now advised that they are revoking consent to let unless we convert to one of their "buy to let" deals.
- I have a mortgage with Adam & Company International on a property and I would like to let it out and rent another house due to changes in personal circumstances - I want to move to a new location, and to live in a larger house with my partner. I applied for consent to let and recently got reply with a refusal as they considered that I want to invest. I dont know what to do next. The process has put me at risk since I am already committed to the new property and would have to pay both Adam & Company International and rent payments, which could expose me financially. The matter needs to be addressed soon because a potential tenant is waiting
- I currently have a mortgage offer with Adam & Company International. With any luck I will get keys in the coming weeks, however I may potentially be moved abroad for work. Would it be possible for me to obtain consent to let from Adam & Company International shortly after drawing down on the mortgage. Do I have any other options?
- I found tenants for my apartment a year ago and didn't tell Adam & Company International. I have a three year homeowner mortgage (large amount of equity in it, never defaulted) and want to let Adam & Company International know and get consent to let for the remaining 24 months of my mortgage . I am unsure what to do.
- 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 home. Will it be possible to get a consent to let on my new mortgage with Adam & Company International to allow us to get a mortgage also with Adam & Company International for a new home?
- I would like to lease out my house. Do I simply send a letter to Adam & Company International requesting consent to let out the property?
- We are close to purchasing a property and plan to live in it once we have renovated but we may need to let the property out but not clear on what the rules are on consent to let from Adam & Company International? We don't need a buy to let mortgage because we are not certain if we will need to let it out at all
- I am trying to investigate if it is possible to get a consent to let mortgage with Adam & Company International rather than a buy to let mortgage
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supplemental the above Adam & Company International 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
One thing to remember when arranging a consent to let mortgage with Adam & Company International is to switch your existing residential buildings insurance policy to a landlords buildings insurance policy. The insurance premium is marginally more expensive but if you don’t switch your insurance and you need to make a claim then you won’t be covered on your regular residential buildings insurance. 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 obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in violation of your covenants under the lease. This could trigger 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 obtain their consent in writing.
Your property may be repossessed if you do not keep up repayments on your mortgage with Adam & Company International