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Need professional advice for your consent to let with ASTRA mortgages? 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 ASTRA mortgages consent to lease
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Me and my husband have a ASTRA mortgages mortgage and are never missed a loan payment, in gainful employment etc. Do you know how much it will cost and if ASTRA mortgages usually grant consent to let without transferring to a commercial rate?
- I'm presently stuck in a rental contract until May and am buying a flat. Would my lender ASTRA mortgages object to granting consent to let until my tenancy ends and then moving in?
- Haringey property worth £150k. ASTRA mortgages mortgage owing £30k with 8 years to run. Get consent to let from ASTRA mortgages for current premises and use income to pay off what is left of mortgage. Apply for 65 per cent ASTRA mortgages mortgage on second premises that I will consider to be my main address? Any reason I cant do this?
- I have been reckless in omitting to advise ASTRA mortgages that I’m renting my one bedroom apartment out. The latest tenants have left the place in a mess and I need to claim on malicious damage. I’m nervous that my insurer will contact ASTRA mortgages, and secondly if they do inform them, what are they likely to do given the lack of consent to let?
- I already have a mortgage with ASTRA mortgages, but I am going to move out for around 12 months as we need to be closer to my wife’s mum and dad. Will ASTRA mortgages issue consent to let?
- I was just looking into consent to let as it's something potentially I require from ASTRA mortgages inside the next year. Our family circumstances has changed, and I would like to let my place out
- If I were to apply for consent to let from ASTRA mortgages how long will it take to hear back?
- Soon to remortgage my house but I will potentially moving out in the near future and would be looking to lease it out. Do ASTRA mortgages give a consent to let letter?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in conjunction with the above ASTRA mortgages 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 provisions in the lease may prevent 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 trigger 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.
Your property may be repossessed if you do not keep up repayments on your mortgage with ASTRA mortgages