Need Help?
Need professional advice for your consent to let with Clydesdale Bank plc? 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 Clydesdale Bank consent to lease
- Can you confirm if it is probable that I will obtain a consent to let with non-commercial loan through Clydesdale Bank? We are looking to relocate to Wandsworth to be closer to our son's university, but we are unsure if the relocation will be for more than a year.
- I want to explore if I can obtain consent to let on my existing property. I have a mortgage with Clydesdale Bank but my situation has changed. I'm about to move in with my partner and son who have a house and more room than my studio home. I am sure that I will not qualify for a buy to let mortgage as I don't have money for a deposit nor do I earn more than £25000 per annum.
- Last month I received consent to let on a normal loan with Clydesdale Bank with aim of switching to a buy-to-let rate when the fixed term ends in a few months' time, so I'm uncertain if this complications to the issue! Any recommendations gladly appreciated.
- We took a loan out on a three bedroom ground floor purpose built flat last May however I will be working outside of commuting distance of Haringey for the foreseeable future but hope to find work closer in the long term. Given I have not had property long I will lose money if I sell and do plan to return to Haringey so would like to keep it. How likely are Clydesdale Bank to allow a consent to let and how do I go about it ?
- What is the longest period that Clydesdale Bank is willing to issue Consent To Let for?
- We are close to purchasing a flat and plan to live in it once we have renovated but we may need to let the property out but not sure what the criteria is for consent to let from Clydesdale Bank? We don't require a buy to let mortgage because we are not certain if we will need to let it out at all
- I currently have my mortgage with Clydesdale Bank and have been for the previous eighteen months and I am interested in finding out some more information about the possibility of getting 'consent to let’.
- I'm looking to find out more regarding consent to let from Clydesdale Bank. Would a valid reason be issues with neighbours and the house is too to small for me?
Find out more about how flying freeholds can affect the marketability of a property.
Important warnings to consider in in addition to the above Clydesdale Bank 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
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 conditions are not complied with you may be in breach 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 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 Clydesdale Bank