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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.
Aviva Equity Release Consent to Lease Example Support Desk Enquires
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I am about to join the property ladder interested in a small house in Aviva Equity Release. I have a 40% deposit and expect a mortgage from Aviva Equity Release. My predicament is that my girlfriend has a flat in Nuneaton and I hope to be moving in next year, when I would have to let out my property. I I know that consent to let is needed but it does not sound like there is any certainty. Is there any advice you can impart?
- I am a first time buyer in the process of trying to buy a flat. However I am potentially also going to be moving abroad in the near future. I have told this to my mortgage broker who has informed me as long as nothing has been signed or confirmed you can go ahead and apply for a residential mortgage with Aviva Equity Release. Once that's complete if it transpires that I need to move abroad he said can apply for a consent to let from Aviva Equity Release. Does that sound like the right advice?
- I am planning to apply for consent to let from my current mortgage provider Aviva Equity Release. A colleague of mine said that he was issued with ‘consent to let’ confirmation from a different lender where it stipulated that the tenancy granted must be in the form of an assured shorthold tenancy. Can you explain what this is?
- We are planning to let my flat for a year from 28th October next year. Is there a template letter I can use to write to Aviva Equity Release to request consent to let.
- I am trying to find out Aviva Equity Release fees for conversion to consent to let from a fixed rate residential mortgage?
- We would like to rent out my flat to be closer to my son’s college and take care of my mother. What do I need for the application of consent to let from Aviva Equity Release?
- I have a mortgage with Aviva Equity Release but would like to rent my house out and move in with my partner and baby what would I have to do to get consent to let?
- Are you able to advise me how much the fees are and if Aviva Equity Release usually issue consent to let without switching to a commercial rate?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in further to the above Aviva Equity Release consent to let Questions and Answers
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
If you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to inform them may trigger your insurance becoming null and void. 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 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 conditions are not complied with you may be in breach of your covenants under the lease. This could potentially result in the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting 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 Aviva Equity Release