Need Help?
Need professional advice for your consent to let with Bath Building Society? 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 Bath Building Society consent to lease
-
Within the next few days I intend to apply to Bath Building Society to obtain consent to let out my property in Bath Building Society. However I currently have the property for sale but there without a sniff of interest and forking out for a full mortgage, council tax and insurance on vacant house is exhausting my finances. What approach would Bath Building Societytake if I market the property?
- Last month I was offered a job overseas and wondering if it's a good idea letting my property out. Will Bath Building Society permit me to change mortgage or grant consent to let? Should it not be available I will have to think about whether it's worth taking the promotion. I wouldn't mind paying an increased amount as I intend to come back and move into my home after 1 to 3 years. I'm not doing it to to make money. Just love my house and want to return to it one day.
- A colleague recently sought CTL from the Woolwich which they turned down citing that the mortgage had not been in place for six months. I am about to seek consent to let from Bath Building Society. Will they adopt the same rule?
- Me and my husband are in a tricky mortgage situation currently. We have to rent our home with consent to let and move to a different location due to schooling. We now rent a home. We are finding it really difficult to find a better mortgage deal for our consent to let home. Is there is a list available as to which lenders grant consent to let and what their conditions are?
- It is looking as though I may need to move to Philadelphia for two years, I have a property with a Bath Building Society mortgage. Do I need to seek consent to let? Will they give it?
- Morning? I am just enquiring if Bath Building Society offer consent to let as an option should I decided to lease out my home under a homeowner mortgage. Is there a specific rule for right to buy property and consent to let?
- I have a residential mortgage with Bath Building Society, and I would like to let the flat out, until I decide whether to sell or keep it as an investment. As things stand I am on the fixed rate. Will I need to remortgage? I.E. buy to let?
- Do you have the address to which a Consent to Let request to be sent for Bath Building Society? Sorry about bothering you with this query.
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in further to the above Bath Building Society 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
Failure 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
Should the tenure of your property be leasehold, the provisions in the lease may prevent 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 taking legal action against you. Be sure to record their consent in writing.
If you do not keep up the payments on your mortgage with Bath Building Society your property may be repossessed