Need Help?
Need professional advice for your consent to let with Aviva Equity Release UK Ltd? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Examples of recent questions relating to Aviva Equity Release consent to let
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I am a first time buyer looking to purchase a 2 bedroom house in Aviva Equity Release. I have a good size deposit will be getting a mortgage from Aviva Equity Release. My dilemma is that my fiancee inherited a apartment in Dover and I hope to be moving in next year, when I would want to let out my property. I I know that consent to let is needed but it does not sound like a guaranteed option. Is there any advice you can impart?
- Do you know if it is possible to get a consent to let with normal loan through Aviva Equity Release? We are intending to relocate to Greenwich to be nearer to our children’s university, but we are not yet sure if the relocation will be for more than twelve months.
- I would like to let my garden flat out from the end of Nov next year as I will be travelling for a few months. I have a domestic mortgage with Aviva Equity Release. I will not be letting for more than 6 months. Most likely it will be four months. I have been told to get permission from my freeholder first? Please can you suggest what I should be doing in what order?
- Resulting from a change in family circumstances my wife and I are housesitting my parents house while they are away and letting our flat out. What is best way to approach my mortgage lender for a 'Consent-to-Let' ? We will need to remortgage in the next year will we then have to move to a BTL product. We will 100% return to our home at the beginning of 2017?
- My partner and I would like to lease out my property. Do I simply post a letter to Aviva Equity Release requesting consent to let out the home?
- I have a mortgage with Aviva Equity Release on a 2 year fixed rate. I may have chance of a teaching job in Belgium next summer. Would I be eligible for consent to let from Aviva Equity Release were I to accept this job abroad?
- I have just recently bought my flat and took out a mortgage with Aviva Equity Release but my boyfriend has asked me to move in with him. Would I be granted consent to let?
- Soon to remortgage my property but I will potentially moving out in the near future and would be looking to rent it out. How quickly can you get consent to let from Aviva Equity Release?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in conjunction with the above Aviva Equity Release 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 Aviva Equity Release 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
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 restrictions are not strictly observed you may be in breach of 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 obtain their consent in writing.
If you do not keep up the payments on your mortgage with Aviva Equity Release your property may be repossessed