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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.
Recently asked questions relating to Adam & Company International consent to lease
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I am employed by a letting agency in loc and a potential tenant for the house has demanded a duplicate of the ‘consent to let’ from the owners lender Adam & Company International. Is this a new type standard inquiry?
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If push comes to shove what action Adam & Company International can take if I have rented my property without consent to let?
- I have a garden flat but I am never there, exploring the option of renting it out. The mortgage is with Adam & Company International, would I have to move onto a new mortgage product or do I apply for consent to let?
- me and my wife recently sorted our rates for another fixed five years with Adam & Company International. However, I went to an interview and basically I accepted the job offer in Camden. I'm going to rent a one bed flat for me and my family in Southwark as we don't want to sell the house and moreover we might come back before two years.... We really have no idea whether it will go. We have contacted Adam & Company International but we would appreciate your take on the situation. Is it possible to have a consent to let in that case as we just got a fixed 5 years rate we really don't want to change.
- I have a mortgage with Adam & Company International on a 2 year fixed term contract. I may have an opportunity for a teaching post in Belgium next summer. Am I eligible for consent to let via Adam & Company International were I to accept this opportunity abroad?
- My son has a mortgage with Adam & Company International and he wants to let his flat out as he is moving in with his girlfriend.Will she be issued with consent to let? What is the process and cost involved?
- Do Adam & Company International give consent to let? I am just considering this as an option if I move home in the the near future
- Me and my husband may need to lease our home temporarily due to a new job. This will be for a limited period but no more than threeyears. Should I tell Adam & Company International or do I keep my head down?
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 Advice
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
Omitting to inform your insurance company of your intention to let could invalidate your insurance or leave you under-insured.This means that you could be personally liable for any claim made against you. 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 conditions are not complied with 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 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with Adam & Company International