Need Help?
Need professional advice for your consent to let with Co operative Bank plc? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Co operative Bank Consent to Lease Example Support Desk Enquires
- I have recently applied for consent to let from Co operative Bank, but wondered if they pose any stipulations on the level of rental yield?
- I have a Co operative Bank mortgage with my twin and am looking to vacate and get a new mortgage with my partner. How do I go about letting out my room? Is consent to let necessary by Co operative Bank? My twin will remain in the flat
- I'm looking to apply to Co operative Bank for consent to let on our current residential property in Islington. I am planning to release equity from my existing property before doing so, and making use of that money to buy a further home. I will stay in that house whilst doing it up for 6 months after which I plan to sell it then move back to my current property. Is this something Co operative Bank will consider consent to let for or is that out of their criteria?
- We are looking to rent out our one bedroom apartment in Wandsworth in Feb. I would like some advice on what I need to do. I've just moved our Co operative Bank mortgage to a fixed term and just need to understand the process and what information I'll need to get consent to let.
- Co operative Bank. Will they grant consent to let a house for a couple of years? I will move back in again as a resident.
- Interested to know if if consent to let would be forthcoming from Co operative Bank enabling me to move back to my mum and dad for a year or two and conserve some cash to extend the lease on my property?
- I was just wondering if Co operative Bank were picky when considering consent to let. I sent my request on date and I am waiting to hear back. Should I start chasing or wait for a bit longer?
- Me and my husband may have to lease our home temporarily due to a new job. This will be for a limited period but perhaps for twoyears. Should I tell Co operative Bank or do I keep my head down?
Find out more about how flying freeholds can affect the marketability of a property.
Information to consider in in addition to the above Co operative Bank consent to let Advice
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
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
If your property is leasehold, the provisions in the lease may prevent 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 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 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 Co operative Bank