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.
Top Five Questions relating to Adam & Company International consent to lease
- I completed on a flat a couple of years ago with a Adam & Company International home loan but now wish to let out the property. I want to find a larger property as our family is growing now and a one bedroom flat is too small for us now - in addition if I lease it out I can save some money. Will Adam & Company International issue consent to let?
- I have a residential Adam & Company International mortgage and am looking to acquire consent to let as I would like to move to another flat belongings to me. It seems may be able to assist. Do you charge for this service?
- Am I required to inform Adam & Company International of my intention to rent a caravan out on the grounds of my property. Can you shed any light on this? I am seeking separate advice on the insurance, legal and tax side of things .
- I have a studio flat in Hounslow which I inherited in 2007 and which I have since remortgaged with Adam & Company International on a fixed rate which ends next September. If I want to rent out the property whilst I go travelling what do I need to do and is there a time limit? Are there any other consequences when applying for consent to let?
- I'd like to know if on the balance of probabilities Adam & Company International will give consent to us letting out our residential property in Brent
- I am considering moving abroad for work and would like consent to let from Adam & Company International whilst I am away. Is the way forward to prepare a letter requesting consent to let and mail it to Adam & Company International? The point of renting the property isn't to make money but to keep the house in case things don't work out
- There is a chance of me going to NYC for a year with work. Planning on taking the husband with me and hoping to rent our Ealing home in the meantime on a short term basis to make matters more cost effective. I was just wondering about the processes of getting a 'consent to let'
- Adam & Company International - consent to let potential. Are you able to advise on the process with this lender? Do they have a minimum period prior to changing and is it possible that I would be required to make a cash injection to reduce the LTV?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supporting 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
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 terms are not adhered to you may be in breach of 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 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 International your property may be repossessed