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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.
Recently asked questions relating to Clydesdale Bank consent to lease
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I'm about to contact Clydesdale Bank for consent to let out my home in Clydesdale Bank. However the property has been on with agents for 4 weeks but there is no interest and forking out for a full mortgage, council tax and insurance on an empty house is draining me financially. What approach would Clydesdale Banktake if I have the house on the market?
- I have an existing mortgage with Clydesdale Bank. Can you point me to where I can download the consent to let submission forms from, as we have commenced leasing out the house?
- I have been a mortgage borrower with Clydesdale Bank for 14 years. My divorce was finalised twelve ago put the property in my name by transfer of equity. My situation has changed, I would like to retain my house but move in with my new partner, leasing my house out. It has been suggested by my financial advisor that I can ask for a consent to let by Clydesdale Bank rather than a BTL mortgage as I I did not buy the house with the intention of letting it out, is this correct?
- Enquiring if Clydesdale Bank perform any checks when obtaining a resi mortgage, I'm ideally looking to let the property out and am unsure as to whether I should apply for consent to let. How likely are they to find out if I let the place out?
- My lender refuse to issue consent to let without a move in date confirmed with a tenant. How can I confirm this in the absence of consent to let? I am not certain but I vaguely recall my friend had a similar issue with Clydesdale Bank.
- We are looking to place my house on rent due to work commitments and was curious if this is possible to negotiate consent to let. It is on a fixed rate mortgage with Clydesdale Bank at the moment until 2018 October
- I would like to rent out my house for 3 years at most. How do I go about getting consent to let from Clydesdale Bank who I have a mortgage with?
- Is consent to let a cost efficient way of renting out your property? Isn't this a loophole for some people to exploit?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supporting the above Clydesdale Bank consent to let information
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
Where 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 lease may prohibit you from letting or require that you obtain the consent of the freeholder. If such restrictions are not strictly observed you may be in breach of your covenants under 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 record their consent in writing.
If you do not keep up the payments on your mortgage with Clydesdale Bank your property may be repossessed