Need Help?
Need professional advice for your consent to let with Darlington Building Society? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Examples of recent questions relating to Darlington Building Society consent to let
- A friend of mine has rented her house off the same landlady for nearly one and a half years. For the last year my friend has been receiving letters from Darlington Building Society (she hasn't opened them-it is clear from the envelope). For the first few she reposted them to the landlord’s address. I was a bit suspicious as none of her landlady's mail was supposed to be going there. I decided to go to my friends house and phoned Darlington Building Society on her behalf. The guy I called at Darlington Building Society asked all sorts of queries, the landlady's details, the tenant's details and then said they were going to investigate whether she had the appropriate mortgage and if she didn't it was an offence without consent to let. Should my friend be worried?
- I have recently applied for consent to let from Darlington Building Society, but wondered if they impose any stipulations on the level of rental income?
- Is it possible to switch a residential mortgage with Darlington Building Society to a consent to let. It will be less than 70% ltv and it would alter from repayment to interest only?
- We are looking to rent out our maisonette in Hackney in Feb. I would like some advice on what I need to do. I've just moved our Darlington Building Society mortgage to a fixed term and just need to understand the process and what information I'll need to get consent to let.
- How much is it to get a consent to let from Darlington Building Society on my residential property. Recently I have moved in with my husband and have a family member renting from me.
- Am I required to obtain consent to let if I let to a family member (in my situation my father now lives there and contributes towards the Darlington Building Society mortgage)?
- I have a mortgage with Darlington Building Society taken 3 months back where I moved from another lender. Am I now able to rent my property with consent to let from Darlington Building Society as I am planning to buy a further property.
- I am interested in consent to let for my property mortgaged with Darlington Building Society. How do I move forward? Do I have to apply to Darlington Building Society and get them to agree?
Find out more about how flying freeholds can affect the marketability of a property.
General Advice to read in supporting the above Darlington Building Society 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
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 terms are not adhered to you may be in breach of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting 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 Darlington Building Society